Toyo Europe reorganises ahead of production launch in Serbia

Jun 07, 2022

New holding company to strengthen governance in Europe

Hyogo, Japan – Toyo Tire Corp. has made a number of organisational changes across its operations in Europe as it prepares to start production in Serbia.

In a statement 26 May, the Japanese group said it was changing the organisational structure and trade name of its European consolidated subsidiary from Toyo Tire Europe GmbH to Toyo Tire Holdings of Europe GmbH, effective 1 June.

Under the new structure, Toyo’s production facility in Indjija City, Serbia will be covered under the umbrella of the new holding company, “with the intent of acting promptly, advancing business operations, and strengthening governance in Europe.”

Based in Willich, Germany, Toyo Tire Europe served as the sales vehicle and sales headquarters of the Japnese group up until 1 June.

The move comes at a time that Toyo is preparing for a full-scale launch of the greenfield facility in Indjija City.

The unit was set for full-scale start-up in April, and is expected to ramp up production to full capacity by the summer of 2023 to produce 5 million tires per year.

With the Serbian plant, Toyo aims to produce and supply "cost-competitive products", with a view toward bolstering supply to the North American and European markets.

Source: European Rubber Journal