Toyo ends Cheng Shin, Maxxis ventures
Toyo Tire & Rubber Co. Ltd. has decided to terminate its joint manufacturing ventures with Cheng Shin Rubber Ind. Co. Ltd. and Maxxis International Co. Ltd. in China in favor of building a wholly owned plant in that country.
Toyo officials say their company "achieved adequate results regarding the original business target" for the joint ventures.
The venture with Cheng Shin, Cheng Shin-Toyo Tire & Rubber (China) Co. Ltd., manufactured tires and tubes for cars in China. The venture with Maxxis, Cheng Shin-Toyo Tire (Xiamen) Co. Ltd., mainly produced radial truck and bus tires.