HYOGO, Japan — Toyo Tire Corp. has revamped its European organizational structure as its new tire plant in Serbia prepares to start production.
Toyo changed the name of its consolidated European sales subsidiary in Willich, Germany, to Toyo Tire Holdings of Europe G.m.b.H. from Toyo Tire Europe G.m.b.H., effective June 1.
Under the new structure, Toyo's plant in Indjija City, Serbia — which went into trial production in April — will be covered under the umbrella of the new holding company, "with the intent of acting promptly, advancing business operations, and strengthening governance in Europe."
The Serbian plant, operating as Toyo Tire Serbia L.L.C., is expected to ramp up production to its full nameplate capacity of 5 million tires a year by summer 2023.
Toyo has stated in the past the Serbian plant will produce and supply "cost-competitive products", with a view toward bolstering supply to the North American and European markets.
Kenta Kuribayashi will continue as Toyo's top executive in Europe as president of both Toyo Tire Holdings of Europe and Toyo Tire Serbia. Yuu Kobayashi is being promoted to executive vice president, CFO and CIO of Toyo Tire Holdings of Europe.
At the same time, Toyo said it's transferring the production engineering division in Japan to its Research & Development Center from the corporate headquarters "in order to facilitate the interaction between advanced/fundamental technologies and production technology and to enhance technology development capabilities."
It also is establishing a Japan Sales Department the Asia & Oceania Sales Division as part of the initiative to rebuild the sales business for the Japanese market.
