OREANDA-NEWS. Toyo Tire & Rubber Co., Ltd. (Akira Nobuki, president) announces the completion of the company’s new tire plant in Malaysia (company name: Toyo Tyre Malaysia Sdn Bhd; hereinafter “TTM”), which had been under construction. A local ceremony celebrating the opening was held to commemorate the occasion.

The festive ceremony was attended by around 350 people. Invited guests included Ambassador Shigeru Nakamura of the Embassy of Japan in Malaysia, YBHG Datuk Dr. Rebecca Fatimasta Maria, Secretary General of Ministry of International Trade & Industry as a representatives from Malaysia’s national government and the state of Perak, the locality of Taiping, and parties involved in the plant’s construction.

Toyo Tires is making progress toward building a three-region global supply system as outlined in the company’s Mid-Term Business Plan ’11 comprised of North America, Japan and Asia. Among these regions, Asia is in a process of expanded motorization where further growth of demand is expected, and is positioned as a vital strategic market that will provide a boost to Toyo’s business foundation.

TTM will have a tire supply system in place capable of producing 2.5 million tires annually by the end of this year, and by 2015, the plant will aim to boost its annual supply capacity to 5 million tires. While TTM will become a supply base for the Southeast Asian market, in the future it will also be a hub that functions as an important export channel for the company’s global tire business. There is enough room on the site of the plant to double the output of the existing plant (for total annual production of 1 million tires), and the company has plans to further expand in the future.

Toyo Tyre Malaysia Sdn Bhd (TTM) is a manufacturing and sales company that produces and sells tires in Malaysia.