Toyo Tires Dissolve Silverstone Subsidiary
The facility which is responsible for manufacturing tyres for new vehicles and Silverstone brands for aftermarket use, as well as certain Toyo Tires brands will cease to produce tyres by June 2021, with the subsidiary (Silverstone Berhad) being dissolved by the end of the year. In a press announcement published on the company’s website, Toyo Tires stated: “Considering its operating environment, the position of the plant in our global strategy and its production capacity from an all-round perspective, we have reached the conclusion that the closure of the plant is unavoidable.”
The Toyo Tires Group operates another manufacturing facility in Perak producing Toyo Tires brand tyres. This facility will now be responsible for the production of certain Silverstone brand products, which were previously produced at the Silverstone Berhad plant.