Hwa Fong Rubber Ind. Co., Ltd. has signed an Asset Purchase Agreement to acquire Sumitomo Rubber USA’s shuttered Tonawanda tyre plant in New York. Signed on 13 October 2025, the deal covers remaining fixed assets and is slated to complete this year. Hwa Fong plans to convert the site into “HF Tonawanda Industrial Park,” initially supporting 100 to 250 local jobs.
Hwa Fong’s move marks its first US production base and a strategic expansion of its manufacturing footprint. The company, known for the Duro brand across motorcycle, bicycle and specialty applications, indicated the Tonawanda project will house manufacturing, assembly, logistics and technology tenants as operations ramp up. “The park aims to catalyse reuse and local employment,” a company spokesperson said.
Sumitomo halted tyre production at Tonawanda on 7 November 2024, eliminating about 1,550 jobs after sustained losses at the ageing facility. Repurposing the site offers a faster route to economic activity than greenfield construction and could support supply resilience for North American customers. The purchase also signals renewed industrial use for a plant that recently faced a bleak outlook.
Local media reported heightened security at the closure and a lengthy wind-down period of up to two years. With Hwa Fong now stepping in, the site shifts from mothballing to phased re-occupation. Early job creation is projected at 100–250 roles, with further growth dependent on future tenants at the park.
US tyre demand has been uneven through 2025, with original equipment volumes softer and replacement steadier. Trade headwinds also persist, including heightened US import duties on Indian tyres from late August. In practice, a revived industrial hub in Western New York could localise component supply and shorten lead times for regional OEM and replacement channels. See Tyre News analysis on global market trends and recent US tariff changes.
Hwa Fong says the industrial park concept allows staged investment while attracting complementary businesses. Community stakeholders have framed reuse as a pragmatic path after abrupt closure in 2024. Transaction completion is targeted within 2025, subject to final closing steps.
Sumitomo’s parent previously undertook major upgrades but ultimately cited market competitiveness and cumulative losses. The company said it sought a buyer in 2024 without success. Today’s agreement suggests the asset base will again support manufacturing activity, albeit under a multi-tenant model rather than a single tyre line.
Tagged with: Hwa Fong Rubber, Sumitomo Rubber USA, Tonawanda plant, industrial park reuse, US tyre manufacturing, Duro brand, North America supply, job creation, asset purchase agreement, factory revitalisation
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