Toyo Tire Corporation has decided to establish Toyo Tire Sales and Marketing Europe (HQ: the Republic of Serbia, hereinafter “TSE”) which will commence sales operations in the European market from January 2025. The management functions of current European headquarters Toyo Tire Holdings of Europe GmbH (HQ: Germany, hereinafter “TTHE”) will be transferred to TSE by the end of 2025 in the reorganisation of Toyo Tire’s business structure in Europe. Accordingly, the sales subsidiaries of TTHE, namely Toyo Tire Deutschland GmbH, Toyo Tire Benelux B.V., Toyo Tire Italia S.p.A., and Toyo Tyre (UK) Ltd. , will successively cease their business activities from January 2025.
As part of the global growth strategy outlined in the medium-term business plan “Mid-Term ’21 Plan,” Toyo Tire set up a new factory in the Republic of Serbia (July 2022) taking advantage of the establishment of a new R&D Centre in Germany (November 2019) as a foothold, and has been working to rebuild the supply system for the European market while supplementing the production and supply of high-value-added products for the main core market, North America.
Toyo Tire plans to consolidate the sales functions that are currently dispersed throughout Europe into a new sales company to be established in the Republic of Serbia, home to Toyo Tire’s production base, and to transfer some of the functions of the current R&D Centre in Germany to a new R&D Centre scheduled to be built on the site of our present Serbian factory.
Toyo Tire will strive to consolidate their business structure for production, sales, and technology encompassing the entire European region, aiming to further strengthen their business management foundation in Europe and to develop the business flexibly and quickly. At the same time, they will work to improve customer satisfaction in the region and boost the presence of the TOYO TIRES brand, while also seeking to bolster their tyre business globally.
Source: Tyretradenews
