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Sep. 09, 2010

Toyo Tires Holds Groundbreaking Ceremony for New Tire Factory in China

Osaka, Japan—September 9, 2010— Toyo Tires Zhangjiagang Co., Ltd. (Chairman: Mitsuru Hitotsuyanagi), a passenger car tire manufacturing subsidiary of TOYO TIRE & RUBBER Co., Ltd. (President and CEO: Kenji Nakakura) in China, held a groundbreaking ceremony today on the future site of its new factory in Zhangjiagang City, Jiangsu Province.

The ceremony was attended by a wide range of dignitaries which included Xu Mei-jian, Mayor of Zhangjiagang City; and Isao Okai, the Japanese Consulate in Shanghai. Many representatives from the municipal government, local community, construction team, and tire retail outlets throughout China were also present. The event attracted approximately 300 people, who offered their best wishes for the future success of Toyo Tires Zhangjiagang.

President Nakakura gave a speech in which he explained that “this is our first wholly-owned Asian tire production facility outside of Japan, and it will be one of the most important within the TOYO TIRES Group. Zhangjiagang City is enjoying explosive economic growth and many foreign companies—including those from Japan—are setting up operations in the area.  We at Toyo Tire & Rubber are grateful for the opportunity to make a contribution to the local community by establishing this state-of-the-art car tire factory which will lead to the creation of stable jobs. We look forward to evolving and prospering together. ”

Toyo Tires Zhangjiagang is Toyo Tire’s second wholly-owned tire production facility to be established outside of Japan after Toyo Tire North America Manufacturing Inc. in the United States.  The company hopes to commence production by the end of 2011.

Corporate overview: Toyo Tires Zhangjiagang Co., Ltd.

(1) Company name: Toyo Tires Zhangjiagang Co., Ltd.
(2) Address: 58 Donghai Road, Jiangsu Yangtze River International Chemical Industrial Park, Zhangjiagang City, Jiangsu Province, China
(3) Representatives: Mitsuru Hitotsuyanagi, Chairman (Senior Corporate Officer, Toyo Tire & Rubber Co., Ltd.)

Yo Matsumoto, President

(4) Primary business: Manufacturing and sale of tires for passenger cars and light trucks
(5) Capital: US$50 million
(6) Ownership: Wholly owned by Toyo Tire & Rubber Co., Ltd.
(7) Date of establishment: April 19, 2010
(8) Production start: Scheduled for December 2011
(9) Production capacity: 2 million units annually
(10) Number of employees: Approximately 500

 

Rendering of the Toyo Tires Zhangjiagang factory
Rendering of the Toyo Tires Zhangjiagang factory

Kenji Nakakura, President and CEO of Toyo Tire & Rubber, speaking at the groundbreaking ceremony.
Kenji Nakakura, President and CEO of Toyo Tire & Rubber,
speaking at the groundbreaking ceremony.

Everybody offered their best wishes for the future success of Toyo Tires Zhangjiagang.
Everybody offered their best wishes
for the future success of Toyo Tires Zhangjiagang.

 

TOYO TIRE & RUBBER CO., LTD. CORPORATE COMMUNICATIONS PLANNING
Osaka Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
Tokyo office Telephone: +81-3-5822-6621 Facsimile: +81-3-3865-2240

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