Toyo Tire & Rubber Co. Ltd. is changing the name of its Malaysian subsidiary, which oversees the yet-to-be-completed tire plant in Taiping Perak.
The new name is Toyo Tyre Malaysia Sdn Bhd. The company changed it from Toyo Tyre Manufacturing (Malaysia) Sdn Bhd in order to designate it as a manufacturing and marketing company.
The consumer tire factory is under construction and will begin operation next spring.
Toyo Tire continues to concentrate its management resources "on growing markets and strategically important business" as part of its 2011 Mid-Term Business Plan.As part of the five-year plan, Toyo is:
* working toward a speedy business expansion into the growth markets;
* expanding sales of high-value added products;
* making practical applications of environmentally conscious technology;
* promoting further measures to increase manufacturing productivity; and
* building the best possible supply structure.
The company says it is focusing on improving its supply chain system "in order to quickly respond to changing market demands."
