According to tirebusiness.com, Taiwan-based Hwa Fong Rubber has completed the purchase of Sumitomo Rubber’s former tire manufacturing plant in Tonawanda, New York, paying $39 million for the facility and its equipment. The transaction finishes a process that began with an announcement of intent in October 2025, after Sumitomo abruptly closed the plant in November 2024 and more than 1,500 workers lost their jobs.
Sumitomo said the shutdown stemmed from rising material and logistics costs, outdated infrastructure, inconsistent financial performance, and shifting market conditions, despite previous investments aimed at improving efficiency and controlling costs. Those factors, the company said, made continued operations at the Tonawanda site unsustainable.
Hwa Fong plans to convert the 2.8 million-square-foot complex into the HF Tonawanda Industrial Park, also referred to as HF Industrial Park. The company intends the site to operate as a hub for manufacturing, assembly, logistics, and technology, with an emphasis on the automotive supply chain. Prospective tenants are expected to focus on:
– rubber products
– wheel parts
– transmissions
– chassis components
– other automotive parts and assemblies
Hwa Fong expects the first phase of occupancy to create between 100 and 250 jobs, with additional employment possible as more operators move in. CEO Alex Chiu described the park as a ‘natural evolution’ for the site, poised to boost Western New York and New York State economies through innovation and activity.
Local officials and media have welcomed the redevelopment, noting the project will help revive a major regional industrial asset. Founded in 1945, Hwa Fong manufactures a broad range of tires for powersports, bicycles, industrial and agricultural equipment, passenger cars, specialty vehicles, trucks, and buses, and this acquisition expands the company’s footprint in the United States.
