Japanese tire company sets eyes on Serbia
Officials from the Toyo Tire Corporation, a Japanese business, announced they will establish a subsidiary in the Republic of Serbia, in order to build a new tire manufacturing plant.
The site chosen for the new factory is the town of Inđija, located halfway between the capital-city of Belgrade and the city of Novi Sad, near the A1 highway, which connects the two.
The Toyo Tire Corporation has plans to improve its business platform, by producing high-quality parts and maintaining a constant supply for the global market.
According to company sources, construction of the new plant should commence in May 2020 and begin manufacturing by 2022. Officials estimated an output of 5 million tires per year by the summer of 2023.
The new factory will also operate using advanced technologies from the Internet of Things portfolio, which should result in low operating costs. The Serbia plant will focus on tires for luxury passenger vehicles and lightweight trucks.
The purpose of the Serbia site is to provide a constant product flow to the European and Russian markets, a role that is now attributed to sites in Japan and Malaysia.