Doublestar to acquire financially troubled Hengyu for Euro 120 million

摘要

Doublestar plans to acquire tire maker Hengyu Technology, currently undergoing bankruptcy restructuring, for Euro 1 18 million (899 million yuan). The investment will go through Jixing Tire, a subsidiary of Doublestar. Hengyu currently has 650,000 unit annual truck and bus tire capacity and 6 million unit annual passenger car tire capacity on stream since 201 5.