Liaoning Hengdasheng acquired 86% of Toyo Tire's plant in China

On August 18, 86% of the shares of Toyo Tire Zhangjiagang Co., Ltd., a subsidiary of Toyo Tire Japan, were officially transferred to Liaoning Hengdasheng Investment Co., Ltd. Earlier, in February, Toyo Tire announced the sale of a stake in its Chinese subsidiary, sending corresponding notifications to partners. 

The deal was worth $91.59 million (approximately 658 million yuan). After the change of ownership, the company was renamed Hengdasheng Toyo Tire (Zhangjiagang) Co., Ltd.

Liaoning Hengdasheng Investment Co., Ltd., founded in 2017, is a long-time trading partner of Toyo Tire.