Toyo Tire Corporation shares that as of 1 July 2021, its Europe Project Development Department will cease being directly managed by the company’s Business Headquarters and will be transferred to the Production Headquarters, where it will be placed under the Headquarters Division.
Toyo Tire U.S.A. Corp. has announced that it will increase the dealer base prices across all tyre categories by up to 8.5 per cent from 1 August 2021. The tyre maker comments that the price increase “is a result of continued increases in raw materials and logistics costs.”
Toyo Tire is heading to the Nürburgring for the 49th ADAC Total 24H Race on 3-6 June 2021. The Japanese tyre manufacturer will supply specially developed tyres to Novel Racing, following up its entry in the delayed 2020 edition of the race for which it signed a partnership agreement with Toyo. Toyo developed its new rubber for Novel’s Lexus RC F and Toyota Supra GT4, entries tuned by Nürburgring based Ring Racing, which has been building cars for the circuit for more than a decade.
The eleven leading tyre manufacturer members of WBCSD’s Tire Industry Project (TIP) have launched a Roadmap to accelerate tyre value-chain impact on the Sustainable Development Goals (SDGs). The SDGs were adopted by all United Nations Member States in 2015 to address some of the world’s most pressing issues by 2030. The members of TIP, in alphabetical order, are: Bridgestone, Continental, Cooper Tire, Goodyear, Hankook, Kumho Tire, Michelin, Pirelli, Sumitomo Rubber, Toyo Tires, and Yokohama Rubber.
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.
Some 600 athletes from across Europe are heading to Toruń, Poland for the European Athletics Indoor Championships 2021, which will take place between 5 and 7 March. Toyo Tires returns as an official partner, continuing the relationship that began at the event held in Berlin three years ago.
Toyo Tire Corporation is closing its loss-making wholly-owned Silverstone Berhad Malaysian tyre manufacturing subsidiary in June 2021. Established on 12 July 1986 and purchased by Toyo in 2011, Silverstone currently manufactures tyres for (primarily Malaysian) new vehicles and Silverstone branded tyres for the aftermarket as well as certain Toyo branded tyres. The dissolution of the Silverstone subsidiary (Silverstone Berhad) will commence by 31 December 2021.
As part of a range of structural changes taking effect on 1 April, Toyo Tires will draw upon its experiences making tyres for the demanding European market in order to benefit its development programme for other regions. The tyre maker is integrating its Europe/Module Development department, which currently operates under the Technology Development division within its R&D Headquarters, into the R&D Headquarters’ Replacement Tire Development department.
It is not easy for tyre businesses to take away something positive from the past year. In retrospect, Toyo Tires came to the conclusion: “2020 was anything but a glorious year for the tyre industry. A slump in new registrations and also double-digit declines in the replacement market business. There were no dealers and no manufacturers who did not have to struggle with losses in the past year.” Nevertheless, Toyo Tires Europe is starting the new year “confidently”, according to the Germany-based European headquarters of the Japanese tyre manufacturer.
Tyre manufacturer Toyo has announced the nominees for the Televised Performance of the Year Award as part of its sponsorship of the highest standard of darts. The award, which will be presented at the Professional Darts Corporation’s annual awards, represents a development of Toyo’s partnership with the PDC. Former World Number One, Michael van Gerwen (MvG) features three times in the nominations, though in two cases he was on the other side of the notable performances.
Toyo Tire Corporation and its Toyo Tire Serbia LLC Belgrade manufacturing subsidiary broke ground at the site of Toyo’s new tyre plant in Indjija City, the Republic of Serbia, on 15 December 2020. Toyo Tire’s eighth tyre manufacturing base is due to start tyre manufacturing operations in April 2022, with a capacity of 5 million passenger car tyres per annum by the summer of 2023.
Following the news that the Japanese tyremaker has received free land as part of the state support package for its Serbia tyre plant, the country’s state aid commission has approved the allocation of 41 million euros ($48.7 million) in government financing to Toyo to support the construction of the new factory in Indjija, northern Serbia.
Shares in Japanese firms hit a 30-year high after Joe Biden was named as the president-elect of the US in a phenomenon being called the “Biden bounce”. Tokyo’s Nikkei index rose 2.6 per cent when the market opened on 9 November. It closed up 2.1 per cent at a level not seen since 1991.
As of the start of this month, Toyo Tire Corporation has implemented a number of changes to its organisational structure. These changes relate to the company’s R&D headquarters in Japan and involve the consolidation and reorganisation of entire divisions.