Gupo Tire (China) Co., Ltd. announced recently that it will complete the acquisition of its joint venture, Gupo Jianda Tire (Kunshan) Co., Ltd., in mid-March 2011, and acquire 50% of the original joint venture party for US$117 million. . Solid Perkins Tire (Kunshan) Co., Ltd. will be renamed as Gupo Kunshan Tire Co., Ltd., becoming a wholly-owned subsidiary of Gupo in China.
Gupo Jianda Tire (Kunshan) Co., Ltd. is located in Kunshan Development Zone Precision Technology Park in Jiangsu Province, the United States Cooper Tire & Rubber Co., Ltd. and China Taiwan JianDa Rubber Industry Co., Ltd. each hold 50% of the shares. The company was established in 2003 and put into production in 2006. It is mainly engaged in the design, development and production of car radial tires and light duty radial tires. After the acquisition, the company will continue to provide high-quality tires for the company as part of its global strategy.
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