Toyo Tires will exhibit at the 28th edition of Autopromotec at the Fiera di Bologna from 22-26 May, 2019. The company will present its range of UHP and SUV products to the large number of aftermarket professionals who visit this exhibition. The tyre maker added that two new products will be revealed at the exhibition, a winter tyre and a new motorsport product.
Toyo Tire UK Ltd teamed up with Tough Mudder for a second year running to sponsor the globally renowned series of mud runs.
On the other side of the Atlantic, Toyo Tire U.S.A. Corp. has launched the new Toyo Open Country H/T II road-going all-season tyre for pickups and SUVs. According to the company, this tyre features “added technology and design that deliver improved wet braking performance and handling, longer tread life, and more consistent traction performance throughout the life of the tyre”.
As of 1 April, Teppei Shigeno will become president of Toyo Tyre (UK) Ltd. He will take over from Nobuo Yoshida, who has been president of Toyo Tire Corporation’s UK subsidiary since 1 April 2018. Shigeno currently holds a position at Toyo Tyre Sales and Marketing Malaysia.
Following their successful participation in the European Athletics Championships in Berlin, Toyo Tires have extended their partnership to their next premier event, the European Athletics Indoor Championships in Glasgow.
The 35th edition of the European Indoor Championships, taking place from March 1 to 3, are the pinnacle of this year’s European Athletics program. Elite athletes have the chance to compete in the most important European Athletics event in 2019 and become the new European Indoor Champion. More than 600 athletes from 50 nations will participate at the Emirates Arena.
Toyo has made a number of organizational, structural and personnel changes, including an executive reshuffle.
First, the company will change its corporate trade name from Toyo Tire & Rubber Co., Ltd. to Toyo Tire Corporation, effective on 1 January 2019. According to the company, the corporate name change will leverage “getting our business operations rolling with the aim of strengthening governance and achieving further growth, which we will endeavour to implement under a new management structure.”
Toyo Tires is now an official partner of the Professional Darts Corporation (PDC) after the tyremaker signed a three-year deal commencing at the forthcoming William Hill World Darts Championship. Darts has enjoyed a boom over the past decade, with stars such as world number one Michael van Gerwen, flamboyant Peter “Snakebite” Wright and reigning World Champion Rob Cross becoming household names.
Startup Europe Partnership (SEP), an initiative of the European Commission, has distinguished Fiege – which has developed a tyre logistics specialism during the last 10 years – as an Open Innovation Challenger. 24 corporate partners are listed in this annual ranking, including multinationals like Amazon, Dell or Google.
Toyo Tire North America Manufacturing Inc. is set to create more than 150 jobs when it invests over US$138 million in its manufacturing operation in Cartersville, Georgia. According to an official announcement, new jobs will include positions in production, support and administration.
The Toyo Celsius SUV A has been selected as an original equipment tyre for the Audi Q8 that goes on sale in North America this autumn. The Audi SUV wears the Toyo tyre in size 275/50 R20 113H.
Through a new arrangement with Mitsubishi Corporation (Mitsubishi), Toyo Tire & Rubber (Toyo) aims to “survive and remain viable” during the “unprecedented transformation” currently occurring in the automotive industry. The two parties have entered into a business alliance agreement that involves Mitsubishi increasing its shareholding in Toyo from 3.05 per cent to 20 per cent. Toyo will issue Mitsubishi 26,931,956 new shares via a third-party allotment that will be paid in between 15 January and 28 June 2019. With this share acquisition, Mitsubishi becomes Toyo’s largest shareholder.
Tyre testers have labelled all-season tyres a ‘compromise’ purchase in past years for their inability to deliver the performance of both summer and winter tyres whenever the weather snaps its fingers and demands this. In its evaluation of the current generation of all-season rubber, Germany’s auto motor und sport harbours no illusions that such a compromise still exists. It wanted to know, however, whether the compromise can be effectively reduced through considered choice of product – the answer, the publication shares, is that it can.
For Toyo Tire & Rubber, the first half of 2018 was a period of mixed fortunes. The manufacturer reports that turnover and earnings within its core tyre business increased 3.9 per cent during the six months to 30 June, with sales of 160,046 million yen (£1.1 billion) and operating income of 22,669 million yen (£160.8 million) resulting in a slightly improved profit margin of 14.2 per cent. Overall sales were down 3.3 per cent, to 185,738 million yen (£1.3 billion), due to decreased turnover within the company’s automotive parts business.
China’s largest tyre manufacturer, Zhongce Rubber, has entered the global top ten, research published today by Tyrepress shows. Best known in Europe for its Westlake brand, the company has pushed up in the rankings past Giti Tire – manufacturer of GT Radial – which did not supply 2017 figures before the deadline, Toyo Tires, and Cooper Tire & Rubber, which fell three places. Competition in the lower quarter of the top ten places is fierce, with turnovers for tyres between 2.4 billion euros (Cooper in 13th) and 3.2 billion euros (Maxxis in ninth).
The 2018 European Athletics Championships will take place in Berlin from 7 to 12 August, and after being part of the IAAF World Championships London 2017 and the IAAF Indoor World Championships Birmingham 2018 as National Partner, Toyo Tires has now extended its association with athletics as an Official Partner for the event in the German capital.
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