Despite sour economy, Toyo’s moving forward with expansion plans, but cutbacks under way

Tire Business staff report

Osaka, Japan – The global economic crisis is throwing a wrench in Toyo Tire & Rubber Co. Ltd.’s plans for its 70th anniversary in 2015.

While the world’s 11th largest tyre maker marches towards its goals of boosting production capacity to 50 million units annually, expanding the Nitto brand globally, moving into new markets worldwide, leveraging differentiation technologies and establishing a global supply system for its anti-vibration business, the company said the timetable for these and other objectives may no longer be…

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