Press Release
May. 15, 2007
Sale of the Automotive Interior Parts Business in Australia
OSAKA, JAPAN―May 15, 2007―Toyo Tire & Rubber Co., Ltd. hereby announces that the company reached Memorandum of Agreement on the sale of the automotive interior parts business of its Australian subsidiary, Toyo Tyre & Rubber Australia Ltd., to a local company specialized in the business. Toyo Tyre & Rubber Australia Ltd. is a subsidiary of the company involved in the sale of tires and the manufacture and sale of automotive rubber parts.
The company discontinued involvement in the automotive interior parts business in Japan in 1999, except in Australia.
Yoshio Kataoka, President and CEO, expressed "The company will further strive to increase its competitiveness, improving the managerial base through enhancing "selection and concentration" in the automotive parts business on a global basis".
| 1. | Information of Toyo Tyre & Rubber Australia Ltd. 1)President : Isamu Kaneto 2)Head Office : 6-14 Cosgrove Road, Enfield, N.S.W. 2136 Australia 3)Paid in Capital : 15 million A$ 4)Employees : 291 5)Plant Location : Minto, Enfield and Sunshine 6)Tyre Sales Office : Sydney, Newcastle, Brisbane, Townsville, Melbourne, Adelaide and Perth |
| 2. | Contents of Transfer 1)Business Including Plant Equipment, land and building of the Sunshine Plant in Sunshine, Victoria State 2)69 Employees who work for Automotive Interior Parts Business |
Toyo Tire Corporation
Corporate Communications Dept.
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
