Dec. 16, 2020
Groundbreaking Ceremony Observed for a New Passenger Vehicle Tire Plant in Serbia
Hyogo, Japan - December 16, 2020 - Toyo Tire Corporation (Headquarters: Itami City, Hyogo Prefecture; President & CEO: Takashi Shimizu) and its manufacturing subsidiary Toyo Tire Serbia LLC Belgrade (Headquarters: Belgrade, the Republic of Serbia; Representative: Kenta Kuribayashi) observed a groundbreaking ceremony at the site of a new plant in Indjija City, the Republic of Serbia yesterday.
The ceremony was attended by about 40 distinguished guests, including President Aleksandar Vučić of the Republic of Serbia, Mayor Vladimir Gak of Indjija City, and Mr. Takahiko Katsumata, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of Serbia, who prayed for safe construction. As the ceremony was organized with the utmost care to prevent the spread of COVID-19, President Shimizu participated remotely from Japan.
In his address, President Shimizu expressed his enthusiasm for Toyo Tire's first plant in Europe: "Many of the products produced at this plant will be designed and developed at our new R&D center in Germany. Our future goal is to produce tires created entirely in Europe." President Vučić expressed his appreciation in his comment: "This is such an important and valuable investment for Serbia, that I cannot find the right words to describe it. I owe a special gratitude to all the people from Japan and our country who supported the arrival of such an important and powerful company in Serbia."*
Toyo Tire is pursuing broad business opportunities in North America and elsewhere by tapping into its distinctive, high-value-added products. As the 8th manufacturing base of Toyo Tire, the new plant in Serbia marks the first step in the drive to realize the company's global growth strategy. In collaboration with the European R&D Center, which was opened in November 2019, Toyo Tire continues to enhance its cost competitiveness and engineering prowess.
The new plant is due to start tire manufacturing operations in April 2022, with a capacity of five million tires per annum (based on tires for passenger vehicles) by the summer of 2023.
■Breaking the ground
■Rendering of new plant
■ Outline of 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||April 2022 (planned)|
|Production Capability||Five million tires annually (based on tires for passenger vehicles)|
|Number of Employees||About 580|
|Investment||About 48.8 billion Japanese Yen (390.5 million Euros)|
|Items Manufactured||Radial tires for passenger vehicles and light trucks|
■ Profile of Toyo Tire Serbia LLC Belgrade
|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||October 2019|
|Capital||20 billion yen (160 million Euros)|
Toyo Tire Corporation
Corporate Communications Dept.
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
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Information is subject to change with or without notice.