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Lion Forest to buy 70% of Silverstone

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LFIB subsidiary Lion Rubber Industries Sdn Bhd has a tyre manufacturing and distribution business in China via a 75-25 joint venture with Shandong LuHe Group Co Ltd. “Given that one of LFIB’s core businesses is in tyre manufacturing and distribution business, LFIB is of the view that the SCB group’s core assets, being its tyre manufacturing plant in Taiping, Perak, has synergistic benefits to the tyre division of the LFIB group. LFIB tyre business would be able to leverage on SCB’s technological and manufacturing know-how to complement its current tyre business in China,” it said.

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