Toyo to establish subsidiary in China
Toyo Tire & Rubber Co. Ltd. will establish a wholly owned subsidiary company, Toyo Tires Zhangjilagang Co. Ltd., in China. Operations will begin at the end of 2011.
"This new subsidiary is expected to meet the growing demand for tires generated by the rapid growth in automobile use in China," say Toyo officials.
Initial production capacity at the plant will be two million units, all passenger and light truck tires. Start-up investment will near $10 million. The factory is expected to employ 500 people.