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Toyo to Build Own Plant in China

Tire Review Staff
By Tire Review Staff
Published:

Toyo Tire & Rubber Co. is canceling out on joint venture projects in China even as it announced plans to build its own tire plant there.

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Toyo president and CEO Kenji Nakakura said the company would build a wholly owned plant at an unnamed location in China that would open by 2012 with an initial annual capacity of two million passenger and light truck/SUV tires.

Nakakura indicated that the plant would serve the Chinese market.

Concurrently, Toyo has pulled out of two joint venture projects in China, one with Cheng Shin Rubber Ind. Co. Ltd. (Taiwan) and another with Maxxis International Co. Ltd.

The agreement with Cheng Shin produced radial tires and tubes. Toyo held a 22.4% stake in the joint venture, which began in 1995. Instead Toyo will take a “consignment manufacturing” role in Cheng Shin-Toyo Tire & Rubber (China) Co., the joint venture company

The Maxxis joint venture – Cheng Shin-Toyo Tire (Xiamen) Co. – produced radial truck and bus tires for the China market, and was started in 2002. (Tire Review/Akron)

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