News

Osaka, Japan – 28 April, 2014 - Toyo Tire & Rubber Co., Ltd. (Akira Nobuki, President & CEO) announces the establishment of Toyo Tire Deutschland GmbH as an overseas tire sales subsidiary in Germany on May 1, 2014.

Previously, tire sales for the German and Austrian markets were managed by the sales division of Toyo Tire Europe GmbH, a subsidiary that served the entire European region. Now, to strengthen the European tire sales business overall, this division will be spun off into an independent sales company.

As a result of the spin-off, Toyo Tire Deutschland along with European sales subsidiaries; Toyo Tyre (UK) Ltd, Toyo Tire Benelux B.V, Toyo Tire Italia S.p.A. and Toyo Tire RUS LLC (Russia) can concentrate on sales activities. Toyo Tire Europe, as a holding company, will provide management functions to co-ordinate and reinforce the activities of each subsidiary. The restructuring will promote cohesive pricing policies, integrated marketing, optimal distribution and more agile management.

While the European market remains potentially unstable, the business environment appears to have bottomed out and Toyo Tires’ business has been rallying steadily on an upward trend.

In addition to supplying the European market with high-value-added tires from the recently inaugurated Malaysian plant, aggressive branding initiatives, including the recently announced Premium Sponsorship agreement with AC Milan demonstrate wider plans to boost the presence of the Toyo Tires brand. 


■Company Outlines
Toyo Tire Deutschland GmbH
1. Location:         Halskestr.3-5, 47877, Willich, Germany
2. President:         Naoki Gonsui
3. Capital:             5.0 million euros
4. Date established:     May 1, 2014
6. Number of employees:     17 (Tentative)

Toyo Tire Europe GmbH
1. Location:         Halskestr.3-5, 47877, Willich, Germany
2. President:         Naoki Gonsui
3. Capital:             4.0 million euros
4. Date established:     March 2005
5. Accounting term:      January - December
6. Number of employees:     26