Toyo opens new sales subsidiary as part of European restructuring
At present, Toyo Tire & Rubber is restructuring its Toyo Tire Europe GmbH subsidiary, with the aim of operating it as a holding company that will manage the tyre maker’s sales subsidiaries within Europe. Toyo says the restructuring will promote cohesive pricing policies and integrated marketing, optimal distribution and more agile management. As part of this, on 1 May Toyo Tire Europe will hand over sales activities for the German and Austrian markets to a new sales subsidiary, Toyo Tire Deutschland GmbH. This new subsidiary will have responsibilities similar to those held by Toyo Tyre (UK) Ltd and the company’s other national sales organisations. It will be located at the same address as Toyo Tire Europe and Naoki Gonsui will serve as president of both operations.
Upon announcing the formation of Toyo Tire Deutschland, the tyre maker also noted that it expects business within our region to pick up: “While the European market remains potentially unstable due to the debt crisis and other factors, the business environment appears to have bottomed out and Toyo Tires’ business has been rallying steadily on an upward trend.”