Toyo Tire & Rubber Co. Ltd. is building a new plant in China "to respond to increasing tire demands in accordance with the rapid progress of motorization in the Chinese market," according to company officials.
Toyo is currently selecting the factory's location. Production is expected to start before the end of 2011.
The initial phase of investment will total 10 billion yen. When up and running at full throttle, the plant is expected to produce two million passenger and light truck tires annually. The tires will be destined for the Chinese market.
"The plant is expected to gradually ramp up its capacity in accordance with market expansion."
