Toyo to Expand Production Capacity in U.S., Malaysia

Toyo Tire & Rubber Co. plans to expand its tire production capacity in the U.S. and Malaysia. The company plans to add new buildings and equipment to further expand the production capacity at its Georgia tire plant and Malaysian tire plant in order to align with the “Mid-term ’17” business strategy.

Toyo Tire & Rubber Co. plans to expand its tire production capacity in the U.S. and Malaysia.

The company plans to add new buildings and equipment to further expand the production capacity at its Georgia tire plant and Malaysian tire plant in order to align with the “Mid-term ’17” business strategy.

In the company’s “Mid-term ’17” plan, Toyo plans to increase its tire sales to 3.5 billion USD and the operating income to $496 million in 2020, up 31.6% and 23.3% respectively, compared to the actual results in 2016.

Toyo plans to invest approximately $124 million to construct a new building at its U.S. tire production facility. The new building will have an annual production capacity equivalent to 2.4 million passenger vehicle tires. Production is scheduled to start in April 2019.

Toyo plans to invest approximately $186 million to construct a new building at its Malaysian tire plant. The new building will have an annual production capacity equivalent to 4.8 million passenger vehicle tires. Production is scheduled to start in October 2019.