Toyo’s Shandong Silverstone acquisition finalised

Toyo Tire & Rubber’s acquisition of Chinese tyre maker Shandong Silverstone Luhe Rubber & Tyre, which was first announced on April 12, has now been finalised. The Japanese manufacturer reports the acquisition of 75 per cent equity in Shandong Silverstone has now been completed and the Shandong Province Industrial and Commercial Bureau has issued a business permit. Toyo’s paid in capital stands at RMB 330,138,000 (£31.8 million).