Lion Forest to produce Silverstone tyres in China
Malaysian news sources are reporting that Lion Forest Industries Bhd is teaming up with Chinese tyre manufacturer Shandong LuHe Group Co Ltd to form a 75:25 joint venture company to produce Silverstone tyres in China. On 15 December the two companies said that Lion Forest’s subsidiary, Lion Rubber Industries Sdn Bhd, had signed an agreement with Shandong LuHe to form the joint venture company with paid-up capital of 152 million ringgit (approximately £21 million).
Lion Forest’s newly acquired subsidiary Quay Class Ltd and Lion Rubber also entered into an agreement with Silverstone Bhd’s 100 per cent subsidiary, iMpression Worldwide Inc, for the provision of technical know-how and services and the use of the Silverstone brand name. Silverstone Bhd is a wholly owned subsidiary of Silverstone Corporation Bhd.