Toyo Tire Corporation plans to construct a smart factory in Serbia
The Japanese Toyo Tire Corporation announced its plans to establish a subsidiary in the Republic of Serbia. The company’s investment program includes the construction and operation of a new tire manufacturing plant in the city of Indijia. Toyo Tire is supplying tires for the European and Russian market from factories in Japan and Malaysia.
“As of 2022, the new manufacturing base in Serbia will take on a key role in this regard. This new production portfolio will reinforce our global tire manufacturing and supply system. IoT will be fully installed at this plant, which will operate as a sophisticated smart factory”, Toyo disclosed in a press release.
The Republic of Serbia complies with all requirements of Toyo Tire, the company further announced. It pointed out as main advantages of the country the outstanding resource of highly skilled workforce, the comparatively low wage and the integration of automotive industries due to ongoing investment by foreign companies.
Toyo Tire will begin construction of the plant in Serbia in May 2020. Tire manufacturing operations are planned to be initiated in January 2022, reaching a capacity of five million tires annually (based on tires for passenger vehicles) by the summer of 2023.
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