News
Establishment of a new plant in Republic of Serbia
30 Jul 2019
Toyo Tire Corporation (Headquarters: Itami City, Hyogo Prefecture; President: Takashi Shimizu) announces to establish a subsidiary in the Republic of Serbia, to construct and operate a new tire manufacturing plant in Indijia City.
Toyo Tire intends to continuously strengthen its business platform by producing highly added value product with timely supply to the global market. In such connection, Toyo Tire announced within the “2017 mid-term plan” to consider a new manufacturing platform with a focus on sustainable growth in 2020 and onwards.
Toyo Tire is supplying tires for the European and Russian market from factories in Japan and Malaysia. As of 2022, the new manufacturing base in Serbia will take on a key role in this regard. This new production portfolio will reinforce our global tire manufacturing and supply system.
IoT (Internet of Things, ex: MES*1) will be fully installed at this plant, which will operate as a sophisticated smart factory. Toyo will take on the challenge for a new level of competitive manufacturing, while achieving high quality at low cost and plan to supply differentiated and highly added value products for luxury passenger vehicles and light trucks within and outside the European market.
The Republic of Serbia complies with all requirements for Toyo Tire. Outstanding resource of highly skilled workforce but comparatively low wage, integration of automotive industries due to ongoing investment by foreign companies, and a blossoming relationship with Japan. Thus, a particularly attractive business environment is being prepared within Europe.
Toyo Tire will begin construction of the plant in Serbia in May 2020, initiate tire manufacturing operations in January 2022, with a capacity of five million tires annually (based on tires for passenger vehicles) by the summer of 2023.
Outline of the new plant
Scheduled Construction Site |
Indijia City, Autonomous Province of Vojvodina, the Republic of Serbia |
Site Area |
About 600,000 m2 (about 150 acres) |
Start of Manufacturing |
January 2022 (planned) |
Production Capability |
Five million tires annually (based on tires for passenger vehicles) |
Number of Employees |
About 500 |
Investment |
About 48.8 billion Japanese Yen (390.5 million Euros) |
Items Manufactured |
Radial tires for passenger vehicles and light trucks |
Profile of the new company
Location |
Belgrade, the Republic of Serbia |
Business Details |
Manufacture and sales of radial tires for passenger vehicles and light trucks |
Investment Ratio |
Toyo Tire Corporation: 100% |
Date of Establishment |
September 2019 (planned) |
Capital |
20 billion yen (160 million Euros) |
*1: MES: Stands for Manufacturing Execution System.
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