Taiwan’s Hwa Fong Rubber to acquire ex-Sumitomo Rubber plant in US

Tonawanda, New York – Taiwan-based-based Hwa Fong Rubber (HFR) has announced "an intent" to purchase the former Sumitomo Rubber USA manufacturing facility and property, located in Tonawanda.

In a 14 Oct statement, the rubber & tire company unveiled plans to convert the existing site into an industrial park for various future uses across manufacturing, assembly, logistics, and technology business operations.

The transaction is expected to be completed later this year, subject to shareholder approval.

Sumitomo Rubber USA confirmed the planned acquisition in a separate statement.

To be initially named the HF Tonawanda Industrial Park, the site will become home to "a mix of local, national, and international company operations," said HFR.

Prospective operators within the park will include automotive-related manufacturing in rubber products, wheel parts, transmissions, chassis, and other components.

HFR intends to create an initial 100 to 250 local jobs at the site, with hopes for “additional and substantial” job creation from future operators.

“We believe this property can successfully transform into a future hub of manufacturing activity and innovation that contributes to both the Western New York and New York State economies,” said Alex Chiu, CEO Hwa Fong Rubber (USA).

Founded in 1945, Taiwan-based Hwa Fong Rubber produces a range of rubber products, including Duro-branded bicycle, industrial, agricultural, passenger car, speciality and truck tires.

HFR currently operates two manufacturing sites in Thailand and China and, according to its statement, has “experience with various former tire manufacturing facilities.”

The company said it selected the Tonawanda location “due to various factors, such as size, reusable square footage, proximity to water, roadway infrastructure, and the ability to be redeveloped into an industrial park setting.”