Toyo Tire opens EUR 390 million factory in Serbia

by   CIJ News iDesk V
2022-12-20   09:49

Japan's Toyo Tire Corporation inaugurated a EUR 390 million tyre factory in Indjija, northern Serbia. Construction on the factory began in December 2020, and represents the largest Japanese investment in Serbia. The company plans to employ around 580 workers at the production plant.

The new factory is expected to reach its full annual production capacity of approximately five million tyres in the second half of 2023, meeting demand in Europe and the company's main market in North America.

The Japanese company established in October 2019 its Serbian subsidiary Toyo Tire Serbia, based in Belgrade, active in the manufacturing and sales of radial tires for passenger vehicles and light trucks.