Press Release

Hyogo, Japan - December 16, 2022 - Toyo Tire Corporation (Headquarters: Itami City, Hyogo Prefecture; President & CEO: Takashi Shimizu) celebrated the official opening of its new factory in Serbia (operated by Toyo Tire Serbia LLC), its first-ever tire production site in Europe, with the presence of President Aleksandar Vučić of the Republic of Serbia and other distinguished guests. At the banquet held at a hotel in Belgrade later the same day, we were also honored by the presence of Prime Minister Ana Brnabic of the Republic of Serbia. Below is a brief account of the opening events held with a warm welcome from the host country/city.

^{At the opening ceremony: Toyo Tire President & CEO Takashi Shimizu delivers his remarks (left) / President Aleksandar Vučić of the Republic of Serbia offers his congratulations (right)}

■ Opening Ceremony

Date: Wednesday morning, December 14, 2022
Venue: Factory building, Toyo Tire Serbia factory
Attendants: President Aleksandar Vučić of the Republic of Serbia; Mayor Vladimir Gak of Indjija City; Mr. Takahiko Katsumata, Ambassador Extraordinary and Plenipotentiary of Japan to Serbia; members from partner businesses in the U.S. and Europe; contractors for construction work; and others  (about 140 guests in total)

In his address, President Shimizu expressed his expectation for the new factory: “Without a doubt, we could not have established a new factory here without the extraordinary vision and passion for economic development exhibited by the leadership of the Serbian governments… By delivering sought-after tires in a timely manner to keep pace with the rapid changes in the marketplace, we will tap the new factory’s full strategic potential to meet the demands of our U.S. market, while at the same time supplying our European market from a local base. Our goal is to make its presence felt as a global production and supply base.”
In response, President Vučić offered generous congratulatory remarks: “Today is a special day because the dream that we have dreamed of for the past five years, together with our Japanese friends, has come true. … We expect that the best tires ‘made in Serbia’ will go from here to the world, to the markets of North America and Western Europe… The factory in Inđija is the only greenfield investment of the Toyo Tire Corporation in Europe, and it is the best in the whole world in terms of quality and equipment… All this brings us a faster GDP growth, it brings us higher salaries and pensions. This is what makes each of us happy and proud.”

■ Banquet

Date: Wednesday evening, December 14, 2022
Venue: A hotel in Belgrade
Attendants: Prime Minister Ana Brnabic of the Republic of Serbia; Mr. Takahiko Katsumata, Ambassador Extraordinary and Plenipotentiary of Japan to Serbia; members from partner businesses in the U.S. and Europe; and others  (about 90 guests in total)

On the occasion, President Shimizu shared the plan for the new factory: “This TOYO TIRE Serbia factory will support our business operations globally. The products made here will be sold, not just in Europe, but across North America. We expect to reach full production during the second half of next year… This new factory comes with many distinctive features, including efficient operation of production equipment using digital data, a mega solar energy system that helps to reduce carbon emissions, and a test track where new tires will be tested for quality. Together, we will grow this new model-factory.”
In return, Prime Minister Brnabic delivered a welcoming/congratulatory message: “This is an important week for Serbia, since the Toyo Tire new factory in Indjija was opened… Not only economic cooperation and new jobs are important to us, but also Japanese business ethics and philosophy from which we can learn a lot. Toyo Tire has also brought its striving for innovation and supreme technologies to the new factory in Indjija that will benefit the overall business environment in our country. I hope that Serbia and Japan will continue to further build political, social and economic relations, and our mutual respect.”
After this, a Daruma, a Japanese good luck charm, was brought in for the “eye-coloring ceremony,” where a Daruma colored in blue—Toyo Tire’s brand color—had one eye colored in with the hope that Toyo Tire can establish itself firmly in Serbia as a member of the local community, bringing joy to the community, the country, and the world.

^{The main stage of the Opening Ceremony with the image visual of our brand message, “Ignite Your BLUE,” in the background (left) / The new factory in Serbia (right)}

Reference: Press release dated December 14, 2022
A New Factory Officially Opens in the Republic of Serbia
—Toyo Tire’s First-Ever Tire Production Site in Europe—
https://www.toyotires-global.com/press/2022/221214_e.html