CHINA Tire Holdings, controlled by Hong Kong's China Strategic Holdings, is suing Goodyear Tire and Rubber of the United States for US$1 billion, alleging that it unfairly won a controlling interest in its rubber factory, it was revealed yesterday.
A lawsuit was filed on Tuesday in California by China Tire - a New York-listed company with interests in tyre factories in China - and affiliates, claiming Goodyear had unfairly won a controlling interest in Dalian International Nordic Tire Co (Nordic).
Nordic is a radial tyre factory in the port city of Dalian, in Liaoning province.
Also claiming the losses are a China Tire subsidiary, Orion Tire Corp, and China Strategic.
The case, expected to be up for hearing in the spring of next year, charged Goodyear 'with tortuous interference with prospective economic advantages, tortuous interference with contractual relationship, civil conspiracy to induce breach of contract' and more.
The suit is the second legal action by the China Tire companies to settle the dispute involving Dalian Rubber Factory, a state-owned enterprise, and Goodyear.