Press Release
Jul. 01, 2011
Toyo Tires Completes Acquisition of Equity Interest in China-based Silverstone Company (Follow-up on previous announcement)
Osaka, Japan - 30 June, 2011 - TOYO TIRE & RUBBER Co., Ltd. (President and CEO: Kenji Nakakura), announced that pursuant to the announcement of April 12, 2011 "Toyo Tires to Acquire 75% Equity Interest in China-based Tire Manufacturer, Shandong Silverstone Luhe Rubber & Tyre Co., Ltd.," the acquisition of 75% equity interest has now been completed, and the Shandong Province Industrial and Commercial Bureau has issued a business permit.
1. Overview of the Company Acquired| (1) Entity Name: | Toyo Tire (Zhucheng) Co., Ltd. Name changed from "Shandong Silverstone Luhe Rubber & Tyre Co., Ltd." |
| (2) Location: | Luzhou Zhucheng River Industrial Park Zhucheng City, Shangdong Province People's Republic of China |
| (3) Representative: | Chan Ho Wai, Chairman |
| (4) Nature of Business: | Manufacture and sales of automobile tires |
| (5) Paid-In Capital: | 330,138,000 Yuan RMB |
| (6) Capital Percentage: | 75% |
| (7) Date Established: | December 21, 2004 |
2. Percentage of Equity Interest Owned before and after Acquisition
| (1) Equity Interest before Acquisition: | 0% |
| (2) Equity Interest after Acquisition: | 75% |
3. Date Equity Interest Acquired: June 22, 2011
4. Date Business Permit Obtained: June 29, 2011
5. Impact on the Business Results:
The impact of this acquisition upon Toyo Tires's Consolidated Business Results for the Fiscal Year
ending March 2012 would be minimal.
Toyo Tire Corporation
Corporate Communications Dept.
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
