05/13/2013

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MALAYSIA: Toyo completes tire plant

A local ceremony celebrating the opening was held to commemorate the occasion. The festive ceremony was attended by around 350 people. Invited guests included Ambassador Shigeru Nakamura of the Embassy of Japan in Malaysia, Dr. Rebecca Fatimasta Maria, Secretary General of Ministry of International Trade & Industry, and parties involved in the plant's construction.

In his welcoming address, Toyo Tires chairman and representative director Kenji Nakakura remarked: "At TTM, we have implemented our proprietary A.T.O.M. tire production system elemental technology. We will take full advantage of Japanese technology in order to achieve Japanese quality here in Malaysia and supply world-class, high-performance, fuel-efficient tires from this plant. I want us to deliver fantastic tires made in Malaysia to our customers here and abroad and achieve the sentiment that the decision to choose Toyo Tires was the right one.”

Toyo Tires is making progress toward building a three-region global supply system as outlined in the company's Mid-Term Business Plan '11 comprised of North America, Japan and Asia. Among these regions, Asia is in a process of expanded motorization where further growth of demand is expected, and is positioned as a vital strategic market that will provide a boost to Toyo's business foundation.

TTM will have a tire supply system in place capable of producing 2.5 million tires annually by the end of this year, and by 2015, the plant will aim to boost its annual supply capacity to 5 million tires.

While TTM will become a supply base for the Southeast Asian market, in the future it will also be a hub that functions as an important export channel for the company's global tire business. There is enough room on the site of the plant to double the output of the existing plant (for total annual production of 1 million tires), and the company has plans to further expand in the future.

Toyo Tyre Malaysia Sdn Bhd (TTM) is a manufacturing and sales company that produces and sells tires in Malaysia.

Source: Toyo Tire & Rubber Co. website, 8 May 2013

(Syed Rashid Ali, Karachi, Pakistan)

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