Toyo Tire & Rubber Co. Ltd. established a sales subsidiary in Germany on Jan. 1 to serve the entire European market.
Toyo said the unit, known as Toyo Tire Europe GmbH in Neuss, Germany, is a joint venture with Mitsubishi Corp.-with Toyo owning 60 percent. Takeo Suzuki is the firm's president.
With the unit, Toyo said it hopes to implement unified sales and marketing strategies for the European tire market, which has been growing with the progress of the European Union.
All business operations of the previous sales subsidiary in Germany, Dusseldorf-based Toyo Reifen GmbH, will be taken over by the new firm, Toyo said.