Hwa Fong purchases former Sumitomo plant in the US

Taiwan-based company Hwa Fong Rubber (HFR) has announced plans to acquire the former Sumitomo Rubber Industries factory and adjacent land in Tonawanda, New York, USA. The tire plant was closed last year, and HFR intends to convert it into an industrial park where various companies are expected to produce RTI, transmission and chassis components, as well as other auto parts. The deal is expected to be closed by the end of the year, subject to obtaining the necessary permits.

The new project has been named HF Tonawanda Industrial Park, and HFR says it will become a platform for both American and international companies in the fields of manufacturing, logistics, technology development, and more. It is expected to create 100 to 250 jobs for local residents, and future project participants will "substantially increase" the number of park employees.

"We are confident that this site can become a successful production and innovation center that will contribute to the development of New York State's economy," said Alex Chiu, CEO of Hwa Fong Rubber (USA).

HFR adds that the plant was chosen for acquisition due to a number of factors, such as its size, potential for reuse and conversion into an industrial park, as well as its well-developed road infrastructure.

Founded in 1945, Hwa Fong Rubber produces a wide range of bicycle, industrial, passenger, and truck tires under the Duro brand and owns two factories located in China and Thailand.