Kuala Lumpur--Malaysia's Silverstone Corp. is selling its Silverstone Berhad tyre activities to sister company, Lion Forest Industries. Both companies are members of the Lion group. The Silverstone Berhad company includes Silverstone Marketing Bhd; Silverstone Polymer Industries Sdn Bhd; Silverstone Tyreplus Pty Ltd of Australia and iMpression Worldwide Inc of the British Virgin Islands.
The deal follows the signing of a joint venture partnership between Silverstone and Shandong LuHe Group Co Ltd in December 2004.
it is a relatively complex deal, involving various companies, all of which are ultimately owned by the Lion Group. The purchase price was RM225 million (â‚¬45.4 million).
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Announcement on KL stock Exchange
The Lion Group website
The Edge (Malaysia) story
Website of Silverstone tyre business