News

Toyo Tire Corporation (Toyo Tire) has decided to establish Toyo Tire Sales and Marketing Europe d.o.o. Indija in the Republic of Serbia, (TSE) which will commence sales operations in the European market from January 2025. The management functions of the current European headquarters, Toyo Tire Holdings of Europe GmbH in Germany, (TTHE) will be transferred to TSE by the end of 2025 in the reorganization of Toyo Tire’s business structure in Europe. The sales subsidiaries of TTHE, namely Toyo Tire Deutschland GmbH in Germany, Toyo Tire Benelux B.V. in the Netherlands, Toyo Tire Italia S.p.A. in Italy, and Toyo Tyre (UK) Ltd. in Great Britain, will successively cease their business activities from January 2025.

As part of the global growth strategy outlined in the medium-term business plan “Mid-Term ’21 Plan,” Toyo Tire established a new factory in the Republic of Serbia in July 2022. A new R&D Center had been established in Germany in November 2019 as a foothold, and the company has been working to rebuild the supply system for the European market while supplementing the production and supply of high-value-added products for our main core market, North America.

Toyo Tire plans to consolidate the sales functions that are currently dispersed throughout Europe into the new sales company to be established in the Republic of Serbia, which is also home to Toyo Tire’s production base, and to transfer some of the functions of the current R&D Center in Germany to a new R&D Center scheduled to be built on the site of our present Serbian factory.

Toyo Tire will strive to consolidate its business structure for production, sales, and technology encompassing the entire European region, aiming to further strengthen the business management foundation in Europe and to develop the business flexibly and quickly. At the same time, the company will work to improve customer satisfaction in the region and boost the presence of the Toyo Tires brand, while also seeking to bolster our tire business globally.

■ Outline of new company consolidating sales functions