OSAKA, Japan (April 9, 2013) — Toyo Tire & Rubber Co., Ltd. has established Toyo Tire (Thailand) Co., Ltd. (TTT) as a tire sales subsidiary in Thailand.
The move is part of the company's Asia growth strategy for its tire business unit, which will have 11 employees and be based in Bangkok.
Thailand is Southeast Asia's largest car market, according to Toyo, so it has positioned Thailand as a vital strategic market. Until now, the company has sold its tires through local distributors, but Toyo decided to establish a local subsidiary to capture a greater share of the demand in Thailand.
Under TTT, Toyo said it will work through local sales channels while boosting its effort to sell OE tires to local car makers. With SUVs and pickup trucks comprising more than half of the vehicles owned in Thailand, Toyo said it plans to aggressively promote sales of light truck tires.