Toyo Tire to close rubber mixing business in Australia

Hyogo, Japan – Toyo Tire Australia, a sales subsidiary of Toyo Tire Corp. is ending its rubber mixing business as of 13 Dec, the Japanese group announced 29 Sept.

The Australian entity will now liquidate its assets for the business, said Toyo, adding that the effect of the closure on its financial results will be announced as soon as they are determined.

Toyo said the termination of the business was part of its new medium-term business plan launched earlier this year, which is centred on mobility, including tires and automotive components. 

Led by Michael Rudd, Toyo Tire Australia is involved in the sale of tires, as well as the manufacture and sale of rubber mixed products and employs a total of 107 people. 

The rubber mixing business employs 36 people and mainly produces industrial rubber materials.