29 Nov 2024
Subsidiaries, including sales units in Germany, Benelux, Italy and UK to cease operation by January 2025
Indija, Serbia – Toyo Tire Corp. is consolidating its European operations with the transfer of its headquarters from Willich, Germany to Indija, where its European production facility is currently based.
In addition, Toyo Tire will discontinue the operations of its sales subsidiaries in Europe, including Toyo Tire Deutschland GmbH, Toyo Tire Benelux BV, Toyo Tire Italia SpA, and Toyo Tyre (UK) from January 2025.
The transfer of headquarters to Serbia to be completed by the end of next year, according to the Japanese group's 28 Nov announcement.
As well as the sales subsidiaries, Toyo Tire has been operating an R&D centre in Willich since November 2019, which has served as the company’s main foothold in the region.
The group now intends to transfer “some of the functions" of the current centre in Germany” to a new R&D unit scheduled to be built on the site of its Serbian factory.
Toyo Tire did not provide details about the impact of the consolidation process on employment within its European workforce.
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