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Toyo Tyre Malaysia Completes New Plant Building

October 3, 2019

New Plant Building Part of Toyo Tires' Phase 2 Expansion

Taiping, October 3, 2019 - TOYO TYRE MALAYSIA SDN BHD (”TTM”, President: Mike Toh), Malaysian  tire manufacturing subsidiary company of Toyo Tire Corporation (President and CEO: Takashi Shimizu), today announced the completion of new plant building in its phase 2 expansion.

TOYO TIRES announced in 2017 that TTM adds new building and equipment to further expand the production capacityPhase 2) to align with the “Mid-term ’17” business strategy. This expansion of production capacity is part of its plan to “strengthen the company’s business foundation in order to maximize profits,” as stated in its tire business policy. It is intended to further solidify Toyo Tires’ sales of large-diameter tires for pickup trucks, SUVs, and CUVs, where TOYO TIRES already has a competitive advantage.

TTM Phase 2 plant expansion is in two stages. It will be included the construction of a new plant building and installation of additional production equipment. At 1st stage will increase production capacity by another 2.4 million tires to total capacity of 7.4 million per year (calculated for passenger car tires), when fully completed by year 2020. This will make TTM the largest tire plant in Malaysia.

Takashi Shimizu in officiating the plant expansion ceremony, joining Dr Ong Kian Ming, Deputy Minister of International Trade and Industry, held at the TTM today thanked the Malaysian Federal Government and the Perak State Government for their cooperation and invaluable support in making TTM for what it is today.

He added “TTM state-of-the-art manufacturing facility located on a 148-acre (600,000 m2) site in Kawasan Perindustrian Kamunting Raya, Taiping -- which is located in a strategic location,  will not only  reinforce our global tire manufacturing capabilities but also serve as the  “hub for global supply” to various markets such as Europe, Japan, Middle East, USA and Asia."

“We have enormous confidence in Malaysia and have invested a total of 41 billion Japanese Yen (equivalent to approximately RM 1.6 billion) to-date due to its political stability, sustainable economic growth, conducive investment environment, good infrastructure as well as highly skilled and productive workforce,“ added Mr Shimizu.

TTM will contribute to create new opportunities for employment in the local society. Approximately   500 employees will be hired until 2nd half 2019 and to add to the current 1,100 work-force following the plant’s first stage of Phase 2 Expansion Plan.

TTM prides itself of utilising Toyo Tires’ proprietary tire production technology, a highly scalable system that features high level of automation, multi-product and small-lot production capabilities for higher productivity, better quality and greater efficiency.

“With such advanced technology, we are able to produce and deliver high value-added products of global standards,“ Mr Shimizu said.

 

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