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Agreement on Sustainable Raw Material Research

3 Nov 2023

Joint Research on Sustainable Raw Materials Commences with the University of Novi Sad, Republic of Serbia

Toyo Tire Holdings of Europe GmbH, the sales subsidiary of Toyo Tire Corporation in Europe, have concluded an agreement on industry-university partnership for research and development of sustainable raw materials* with the University of Novi Sad. The signing ceremony was performed at the University of Novi Sad Friday, November 3, 2023.

Toyo Tire Corporate Officer Kenta Kuribayashi and University of Novi Sad Rector Dr.Dejan Madic at the signing Ceremony
Toyo Tire's Kenta Kuribayashi and Faculty Dean Biljana Pajin from the University of Novi Sad signing the agreement

Located in the north of the Republic of Serbia, Novi Sad is the second largest city in Serbia after the capital Belgrade. Since its foundation, the University of Novi Sad has expanded as the country’s centerpiece institution of higher education to become one of the largest universities in central Europe, with 14 faculties, nearly 50,000 students, and over 5,000 faculty members.

Having a production base in the country, Toyo Tire intends to promote technology development through this industry-university partnership out of its wish to contribute to educational policies in Serbia.

The Faculty of Technology, which the joint research group is affiliated with, is internationally renowned in the field of rubber technology, among others. Toyo Tire aims to increase the ratio of sustainable raw materials used in its products to 40% by 2030 and 100% by 2050. It makes perfect sense to start research and development of sustainable raw materials here at this university, one of whose founding faculties is the Faculty of Agriculture, by utilizing its wealth of knowledge and what this region has to offer.

Toyo Tire will accelerate the development of sustainable raw materials on a global scale as it leverages any research outcomes from such industry-university partnerships.

■    About the joint research
“Initiatives to Facilitate the Use of Sustainable Raw Materials”
(1)    Development of renewable raw materials utilizing plants derived from Serbia
(2)    Development of recycled raw materials derived from waste tires
* Renewable raw materials (rice husk ash silica, etc.) and recycled raw materials (recycled carbon black, etc.)

■    About the Signing Ceremony
Date/Place: Friday, November 3, 2023, 10:00, University of Novi Sad campus
Key attendees:
University of Novi Sad; Dejan Madić, Rector, and Biljana Pajin, Dean, Faculty of Technology
Toyo Tire; Kenta Kuribayashi, Managing Director, Toyo Tire Holdings of Europe GmbH

About the University of Novi Sad

Official name

University of Novi Sad


Novi Sad, Autonomous Province of Vojvodina, Republic of Serbia


June 1960




Approximately 48,600

Faculty members

Approximately 5,200










■ About Toyo Tire Serbia d.o.o.


Indjija, Autonomous Province of Vojvodina, the Republic of Serbia

Business Details

Manufacture and sales of radial tires for passenger vehicles, SUVs, and light trucks

Investment Ratio

Toyo Tire Holdings Europe GmbH: 100%

Date of Establishment

October 2019


20.0 billion Japanese yen (160 million Euros)


Yoji Imura











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