Press Release
Dec. 10, 2010
TOYO TIRES Completes Acquisition of Silverstone Berhad
TOYO TIRE & RUBBER CO., LTD. (President and CEO: Kenji Nakakura, the “Company”) today announced that it has completed the acquisition of all shares in the Malaysia –based tire manufacture Silverstone Berhad, consistent with its earlier announcement dated 21 October, 2010 press release: " TOYO TIRES to Acquire Malaysia-based Tire Manufacturer Silverstone Berhad”.
Overview of Silverstone Berhad
| Company Name | : Silverstone Berhad |
| Head Office | : LEVEL 14, Office Tower, No. 1 Jalan Nagasari (off Jalan Raja Chulan), 50200 Kuala Lumpur, Malaysia |
| Representatives | : Tan Sri William H.J. Cheng (Chairman) Chan Ho Wai (Director) |
| Business Activity | : Manufacture and sale of motor vehicle tires |
| Paid-in Capital | : 203,877,000 Ringgit |
| Date Established | : 12 July, 1986 |
| Number of Employees | : Approximately 1,400 |
Shares Acquired and Pre/Post Acquisition Shareholding Position
| Pre- Acquisition Shareholding Position: | 0 shares (% of outstanding shares owned: 0%) |
| Number of Shares Acquired: | 203,877,500 shares |
| Post- Acquisition Shareholding Position: | 203,877,500 shares (% outstanding shares owned: 100%) |
Date of Stock Transfer
10 December, 2010
Outlook
This will have a negligible effect on The Company’s consolidated and non-consolidated financial results for the fiscal year ending March 31, 2011. (FY2010)
Disclaimer
No information on this press release is intended as either an offer to sell, or a solicitation of an offer to buy, any securities of TOYO TIRE & RUBBER CO., LTD. When making any investment decisions, investors should review securities reports, filed or submitted by the Company with the relevant regulatory authorities, and should exercise their own judgment in making their investment decisions. Furthermore, with the exception of historical facts, any current plans strategies or beliefs held by TOYO TIRE & RUBBER CO., LTD. As expressed in this news release shall be considered a forward-looking statement. These statements are based on management's assumptions and beliefs in light of the information currently available. The assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements.
For more information, please refer to the section “Inquiries about General” on our web site.
Toyo Tire Corporation
Corporate Communications Dept.
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
