• Twitter
  • Facebook
  • Instagram
  • Subscribe
  • Free Newsletter
  • My Account
Tyrepress
  • 0Shopping Cart
  • NewsNews
    • Latest News
    • Company News
    • UK News
    • Product News
    • International News
    • Retreading
    • Career Tracks
    • Motorsport
    • Video
    • Tyrepress Videos
  • Data
    • Leading Tyre Manufacturers
    • Leading Retailers (UK)
    • Social Media Ranking
    • Online Branding
    • Brand Finance rankings
    • Blue Light Fleet Analysis
    • Astutus Research analysis
    • Tire Market Forecasts
  • Features
    • Goodyear to buy Cooper – special supplement
    • TPMS and Sensor Technology 2021
    • Tyre Industry Conference 2020
    • Online Tyre Business 2020
    • Kick-starting your business webinar May 2020
  • Business Directory
    • Browse Entries
    • List Your Company on the Business Directory
  • Jobs
    • Situations vacant
    • Career Tracks
  • Classifieds
  • Magazine
    • Latest Issue
    • Read Tyres & Accessories Magazine online
    • Tyres & Accessories Magazine Archive
  • Shop
    • Subscription Shop
    • Report Shop
    • Directory Shop
  • About
    • Company Profile
    • Media Information
    • Frequently Asked Questions (FAQs)
    • Legal
    • Contact Us
  • Tyre Tests
  • Search
  • Menu
You are here: Home1 / News2 / Company News3 / New Serbia plant key to more profitability – Toyo

New Serbia plant key to more profitability – Toyo

Date: 11th March 2021 Author: Andrew Bogie Comments: 0
Toyo has big plans for its Serbia plant (Photo: Toyo)

Toyo Tire Corporation’s 2021 to 2025 ‘Mid-term ’21 plan’ indicates the brand’s intentions for its new Serbian plant, due to commence production in April 2022. The Japanese brand says the facility will not merely offer “local production for local consumption.” It says the plant will play a major role in further international expansion, becoming by far its most cost-effective.

Of the five million car and SUV tyres to be produced annually in Serbia, three million will be marketed in Europe, while the rest will be shipped to North America. Compared to Toyo’s major plant in Sendai, Japan, Serbia is around 30 per cent cheaper. In addition, a large part of the logistics costs will be eliminated. Therefore, according to Toyo’s plan, its overall profitability should then increase significantly, from currently 36.3 billion yen in operating profit (2020), corresponding to a return on sales of 10.6 per cent, to 60 billion yen, or “14 per cent or more”.

In addition to its new Mid-term ’21 plan, which you can find here on the manufacturer’s website, Toyo Tire has also published a new Financial Fact Book.

Related news:

  1. Toyo investing 390 million euros in Serbia tyre factory
  2. Serbia to become PCLT tyre production hub
  3. Cooper finalises Serbian acquisition
  4. Toyo breaks ground on Serbia tyre factory
Comments

Leave a Reply Cancel reply

Connect with:
Facebook Google Twitter

Your email address will not be published. Required fields are marked *

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share on Reddit
  • Per E-Mail teilen

Advert Location 348

Related Tags

Manufacturing, Serbia, Toyo

Advert Location 28

Top five articles this week

Advert Location 29

© 2020 - Tyrepress
  • Twitter
  • Facebook
  • Instagram
  • WhatTyre
  • Reifenpresse
  • PneusNews
Fantastic recognition: Bridgestone on Auto Bild Sportscars test win Undisputed test winner – Kumho celebrates Auto Bild result
Scroll to top