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Japan's Toyo Tire opens 390 mln euro factory in Serbia

Dec 14, 2022, 2:55:44 PMArticle by Djordje Jajcanin
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December 14 (SeeNews) - Japan's Toyo Tire Corporation inaugurated a 390 million euro ($415 million) tyre factory in Indjija, in northern Serbia, it said.

Japan's Toyo Tire opens 390 mln euro factory in Serbia
Photo: Toyo Tire

The new factory is expected to reach its full annual production capacity of approximately five million tyres in the second half of 2023, meeting demand in Europe and the company's main market in North America, the company said in a statement on Wednesday.

Toyo Tire plans to employ around 580 workers at the production plant.

Construction on the factory began in December 2020, and represents the largest Japanese investment in Serbia.

The Japanese company established in October 2019 its Serbian subsidiary Toyo Tire Serbia, based in Belgrade, active in the manufacturing and sales of radial tires for passenger vehicles and light trucks.

The Japanese company, established in 1945 in Osaka, has a total of 13,000 employees worldwide.

($ = 0.9388 euro)

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