Toyo picks Serbia as site for new tire plant

From R&P News comes the news that Toyo Tire will build a $450 million passenger and light truck tire plant in Europe. Toyo has selected a 150-acre site about 35 miles northwest of Belgrade for the factory, which will be rated at 5 million units a year at full capacity. Toyo plans to break ground in May 2020 at the site in Indija, Serbia, with production slated to start by January 2022. The plant is expected to hit full capacity by summer 2023 with 500 employees, Toyo said. The plant will be Toyo’s eighth tire factory worldwide and make Toyo the 15th global tire company with production capacity in Europe.