Toyo to build tyre plant in Malaysia

ERJ staff report (LMH)

Osaka, Japan - Toyo Tire & Rubber is to construct a tyre plant in Perak, Malaysia, the Japanese company said in a 4 Aug announcement.

Toyo said the new plant will strengthen its production-supply capability for passenger car and light truck tyres in the Asia region.

The planned site for the 480 000 sq.m factory is in a suburb of Perak, Malaysia, where Silverstone Berhad, part of the Toyo Tires group of companies, currently has its Malaysian plant. Toyo said synergy between the two plants is expected.

Some 20 billion yen (Euro 175 million) will be invested in the plant. Production will start at about 2.5 million tyres made annually for the Malaysian market, as well as the neighbouring ASEAN countries and other regions. Toyo said its goal is to produce 5 million tyres per annum by 2015, with ambitions to achieve an annual production sale of 10 million tyres in the future.

The plant is expected to be operational by April 2013 and the company hopes to employ some 800 people by 2015.

Toyo noted that it set up a subsidiary in Ipoh, Malaysia, in April of this year in order to prepare for the start-up of the new plant.

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Press release from Toyo Tire & Rubber