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Doublestar Completes Acquisition of 45% Stake of Kumho Tire

By this, Doublestar becomes Kumho Tire’s controlling shareholder.

Doublestar purchase Kumho Tire
Kumho Hopes to Build Brand Value with Doublestar Deal

As a result of the deal, planned investments will help stabilize the company, upgrading and expanding manufacturing, R&D and reach of the global tire brand.

Doublestar purchase Kumho Tire
Kumho Workers Accept Sale to DoubleStar

Kumho Tire Co. is one step closer to reconciling its debt. 

Doublestar purchase Kumho Tire
Kumho Tire Union Opts to Vote on Doublestar Deal

In Korea, the Kumho Tire labor union has decided to finally hold a vote on whether to accept the acquisition bid by the Chinese tiremaker.

Doublestar purchase Kumho Tire
Kumho Labor Union Continues to Resist Doublestar’s Buyout

As a Friday deadline is on the horizon to accept a reorganization plan, Kumho’s labor union continues to resist Doublestar’s acquisition.

Doublestar purchase Kumho Tire
Doublestar Chief Visits Kumho Tire

The head of Chinese tiremaker Qingdao Doublestar, who recently acquired Kumho Tire Co., paid a visit to the South Korean company, calling the investment a “win-win” partnership and pushing for a deal with Kumho’s worker’s union.

Doublestar purchase Kumho Tire
Kumho CEO Ends Protests, Unions Urged to Accept Doublestar Deal

The sit-ins and walk-outs by unionized Kumho Tire workers have ended; however, the union group continues efforts to block the sale of the tiremaker to Chinese tiremaker Qingdao Doublestar.

Doublestar purchase Kumho Tire
Kumho Workers Go on Strike Amid DoubleStar Purchase

Kumho Tire workers are on strike after Chinese company Qingdao Doublestar Co. Ltd bought a majority stake in the company.

Doublestar purchase Kumho Tire
China’s Doublestar Takes Control of Kumho Tire

China’s Qingdao Doublestar Co. Ltd. has agreed to invest 646.3 billion won ($597.4 million USD) for a 45% stake in South Korea’s Kumho Tire Co. Inc, multiple news outlets reported at the beginning of March. 

Doublestar purchase Kumho Tire
Doublestar to Pay Toyo $1.6 Million in Contempt Sanctions

Doublestar Dong Feng Tyre Co Ltd and its affiliate Qingdao Doublestar Tire Industrial Co Ltd, have been ordered by a federal court in California to pay $1.6 million to Toyo Tire & Rubber Co. Ltd. for violating a 2014 court order, which barred Doublestar from selling tires that are “confusingly similar” to Toyo’s products.