Japan’s Toyo Tires to open EUR 390-mln-factory in Indjija

Serbian President Aleksandar Vucic told the media that, after three years of negotiations, the world’s largest producer of tires, Toyo Tires, had decided to come to Serbia, more precisely, to the town of Indjija in the northern province of Vojvodina.

Vucic said that he had received a letter from the president of the Japanese company, confirming that Indjija had been selected for their factory, which construction, on a 60-ha land plot, would start in several months.

“This will be Toyo Tires’ first factory in Europe,” Vucic said and added that, in the first phase, EUR 390 million would be invested and 523 workers would be employed.

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The average salary in this company, he says, will be far above the domestic average.

In a statement, Toyo Tires said the Indjija plant would supply European and Russian markets, which are currently serviced by plants in Japan and Malaysia.

“As of 2022, the new manufacturing base in Serbia will take on a key role in this regard,” it said.

In the first quarter of 2019, Toyo Tires reported a net profit of 5.64 billion yen and last month it announced it ramped up capacity at its United States-based subsidiary.

(Seebiz, 30.07.2019)



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