Business Services Industry
Toyo Tire & Rubber Co. to Build U.S. Plant.
Knight Ridder/Tribune Business News, February, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Feb. 17--OSAKA, Japan -- Toyo Tire & Rubber Co. said Tuesday it will build its first wholly owned plant in the United States to produce automobile tires as demand is growing in the North American market.
Japan's fourth-ranked auto tire maker said it is sorting out candidate sites for the plant in the eastern U.S.
The new plant will be built at a cost of $150 million for completion during fiscal 2005. It will produce some 2 million tires a year.
Based in Osaka, Toyo sells some 5 million tires a year in the North American market, most of which are shipped from its plants in Japan and China.
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