Toyo's restructuring in Europe continues

Posted on April 28, 2014

Toyo Tire & Rubber Co. Ltd. says it will establish an overseas subsidiary in Germany on May 1, 2014. It will be called Toyo Tire Deutschland GmbH (TTD).

Previously, all tire sales for the German and Austrian markets were handled by the sales division of Toyo Tire Europe GmbH (TTE), a tire sales subsidiary headquartered in Germany that served the entire European region. However, as part of reorganization with the intent of bolstering the European tire sales business as a whole, this division will be spun off into an independent entity specializing in sales.

As a result of the spin-off of the sales division, European sales subsidiaries Toyo Tyre (UK) Ltd. (UK), Toyo Tire Benelux B.V. (the Netherlands), Toyo Tire Italia S.p.A. (Italy), Toyo Tire Rus LLC (Russia) and TTD "can concentrate on sales activities, and TTE as a holding company will establish management function to strengthen the controlling function of each subsidiary," says the parent company. The restructuring also "will promote cohesive pricing policies and integrated marketing, optimal distribution and more agile management."

"While the European market remains potentially unstable due to the debt crisis and other factors, the business environment appears to have bottomed out, and Toyo Tires’ business has been rallying steadily on an upward trend.

"In addition to supplying the European market with high-value-added tires from our Malaysian plant that began operation in May of last year, aggressive branding initiatives highlighted by the enhancement of the controlling functions of TTE and the recently announced premium sponsorship agreement with AC Milan are evidence of our efforts to further boost the presence of the Toyo Tires brand."

Naoki Gonsui will be president of TTD. He will remain president of TTE. Both companies are based in Willich, Germany.

Related Topics: Europe, Naoki Gonsui, Restructuring

Comments ( 0 )
More Stories
Tom Formanek takes over as TIA president for Glen Nicholson at the annual membership meeting.

Tom Formanek Will Take Reins of TIA Board

Tom Formanek will be inducted as the next president of the Tire Industry Association (TIA) during its annual membership meeting on Oct. 31, 2016. He will serve a one-year term.


Continental’s BestDrive Expands in Ohio

BestDrive, LLC, a subsidiary of Continental Tire the Americas LLC, has opened a retread shop and commercial tire service center in Grove City, a Columbus, Ohio, suburb.


Goodyear Furthers Strategy by Announcing Plant Closure

Goodyear Tire & Rubber Co. remains focused on capturing "the growing demand for premium, large-rim diameter tires." The company says part of that strategy involves"reducing excess capacity in declining, less profitable segments of the tire market."


Trelleborg to Unveil Virtual Reality App for Tires

Trelleborg Wheel Systems is launching a virtual reality (VR) app featuring its agricultural tires at the International Agricultural and Gardening Machinery Exhibition (EIMA) 2016, Nov. 9 to 13, in Bologna, Italy.

Yokohama says the 104ZR's block-shaped stone defense ribs "prevent stones from traveling to the bottom of the grooves, reducing casing damage by up to 25%."

Yokohama Adds 4 Sizes to Its 104ZR Truck Tire Lineup

"The 104ZR is a true workhorse that’s designed to deliver longer tread wear, low rolling resistance, and even wear, making it especially ideal for high scrub applications," says Tom Clauer, Yokohama Tire Corp. manager of commercial and OTR product planning.

"Our goal is to provide a clear and compelling 2017 Dealer Program well in advance of 2017 so that we can hit the ground running on Jan 1, 2017," says Falken Tire Corp.'s Darren Thomas. 

A Familiar Face Returns to Falken Tire

Darren Thomas proves you can go home again. Thomas, vice president of sales and marketing for Falken Tire Corp. from 2002-2008, has returned as senior vice president of sales and marketing.

This 2016 Tesla Model X P90D Ludicrous makes its world debut at the Toyo booth during the 2016 SEMA Show.

Toyo Goes 'Big' at 2016 SEMA Show

Toyo Tire U.S.A. Corp. is bringing big displays and big vehicle debuts to the 2016 Specialty Equipment Market Association (SEMA) Show in Las Vegas, Nev.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!