18 Feb 2004
From Rubber & Plastics News
Osaka, Japan-Toyo Tire & Rubber Co. Ltd has confirmed that it plans to build a tyre plant in the US in the next two years, budgeting $150 million for a factory capable of making 2 million passenger and light truck tyres a year.
Toyo said it is evaluating several sites in the eastern US for the facility, which would begin production by early 2006 with initial employment of 350. Media in the Southeast US have identified one of the sites as Bartow County, Georgia., near Atlanta, where a local industrial development group has pitched a Japanese tyre company on a site there.
Toyo said its decision to produce in the US is based on several factors, including the need to increase capacity anyway to meet robust overseas demand and a desire to hedge against currency fluctuation risk.
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