Toyo Tire Corporation and its manufacturing subsidiary Toyo Tire Serbia LLC Belgrade observed a groundbreaking ceremony at the site of a new plant in Indjija City, the Republic of Serbia.
Toyo Tire Opens New Serbian Tyre Plant
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. As the ceremony was organised 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 tyres 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 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 realise 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 tyre manufacturing operations in April 2022, with a capacity of five million tyres per annum (based on tyres for passenger vehicles) by the summer of 2023.