28 Jun 2005
Osaka, Japan --Toyo Tire & Rubber Co. Ltd. will spin off the Nitto brand division of its Toyo Tire (USA) Corp. sales subsidiary and incorporate it as a separate company called Nitto Tire North America Inc.
Toyo said the move, effective July 1, will enhance the value of the Nitto brand in the US market and contribute to increased sales, especially from Toyo's new US plant in 2006, through timely, flexible and creative marketing.
Shozo Kibata, president of Toyo Tire (USA) in Cypress, Calif., and Toyo North America Inc. in Bartow County, Georgia, will be chairman of Nitto Tire North America, which will be based in Cypress, California.
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