Toyo Tyre (M) Sdn Bhd expects to increase annual production to five million tyres in 2015 following the completion of its new flagship manufacturing facility here.

The facility will initially produce 2.5 million tyres.

Toyo Tire & Rubber Co, Ltd. Chairman Kenji Nakakura said the Malaysian facility was strategic in the group’s global expansion plan.

"Its completion brings to fruition an integral component of Toyo Tire’s mid-term business plan in which a global optimal supply system will be built in its three-region world of Japan, North America and Asia to produce and supply 45 million tyres for global market in 2015,” Nakakura told reporters at the completion ceremony of Toyo Tyre Malaysia factory.

"This is a 55 percent jump from the 29 million tyres produced and supplied by Toyo Tire in 2010,” he added.

Built at an investment of RM800 million on a 59.89-hectare site, the facility in Malaysia is also primed to be the group’s largest outside Japan when it operates at full capacity in two years’ time.

Nakakura said out of the targeted 45 million tyres, 26 million would be supplied to Japan, 12.5 million to Asia and 6.5 million to North America.

He said Toyo Tire’s manufacturing plant in China, which was completed in 2011, produced two million tyres while the new Malaysian facility will produce five million tyres by 2015.

Source: BERNAMA