Toyo announces Diver-Tech reorganisation

Toyo Tire & Rubber reports it will make changes to its business structure as of 1 January 2013. On that date, the development, manufacture and sales of railway vehicle parts, OA equipment parts, industrial, construction and waterproof materials products will be consolidated into the Toyo Chemical/Industrial Products Sales Corporation. This consolidation will take place in order to optimise management resources in the company’s Diver-Tech business segment, Toyo says. The company, whose name will change on 1 January to “Toyo Chemical Products/Industrial Co., Ltd”, will be operated as a new company which will oversee this integrated business in the Toyo Group.

Up until now, Toyo Chemical/Industrial Products Sales Corporation has procured and conducted the sale of industrial rubber products developed and manufactured by Toyo Tires, such as standard anti-vibration rubber products, horses, seismic isolation bearing laminated rubber for buildings, thermal insulation materials and waterproofing materials. By transferring and consolidating the development, manufacturing and sales sections in this segment into one company, and organising an independent business unit with integrated technology development, manufacture, sales, service and management, this company will be positioned as one of the core firms under Toyo’s Diver-Tech business, and thus work toward a greater and more flexible growth in the Chemical and Industrial Products business.

Through this realignment in business structure, Toyo Tires believes it will effectuate greater efficiency in management and speedy decision making, and thereby work toward increased profitability in the Diver-Tech Business segment.