Japan’s Toyo Tires is considering the feasibility of building a plant in Russia that would manufacture tires for the local and European markets. A decision on the new tire plant may be adopted within two to three years.
A decision on the new enterprise may be made by mid-2018. The company is increasing tire supplies to the Russian market each year and by 2020 may reach the level of 2 million tires sold versus almost 1 million tires in 2015, said Kenta Kuribayashi, the head of the company’s Russian office.
Toyo Tire & Rubber was established in 1945 in Osaka. The company’s Russian office, which was established with Mitsubishi Corporation, began working in 2008.