Toyo Tyre is to establish a subsidiary in Serbia to construct and operate a new manufacturing plant in Indijia City.
The supplier announced within the 2017 mid-term plan it would consider a new manufacturing platform with a focus on sustainable growth in 2020 and onwards.
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Toyo is supplying tyres for the European and Russian market from factories in Japan and Malaysia. As of 2022, the new manufacturing base in Serbia will take a key role in that regard.
Toyo Tyre will start construction of the plant in Serbia in May 2020, with a capacity of 5m (based on tyres for passenger vehicles) by the summer of 2023.
Earlier this year the supplier said its US tyre production subsidiary, Toyo Tyre North America Manufacturing (TNA) manufactured its 50 millionth tyre.
The tyre was a Ridge Grappler for light trucks, sold as the Nitto brand. TNA started operations as the group’s US tyre production site in 2005.
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By GlobalDataTyres manufactured by the company’s proprietary ATOM or Advanced Tyre Operation Module, production method, with a focus on large-diameter tyres for light trucks, are used in professional-grade large pick- up trucks and SUVs, not only in the North American aftermarket, but also by car manufacturers in new vehicles.
