Toyo Tire mulls expanding US output on brisk SUV, pickup demand
Company may increase its US capacity to as much as 10 million units by 2020
Japanese tire-maker Toyo Tire & Rubber Co. is considering expanding US production on the back of brisk pickup truck and sport utility vehicle (SUV) sales in the country, reports Bloomberg. Toyo Tire said it sees higher demand for tires used in these vehicles in the US, which are high-profit products for the company. Company president Akira Nobuki said last week that Toyo Tire may raise its annual tire output capacity in the US to 8.5 million units by early 2015, up from 6.5 million currently. Nobuki added that the company may increase its US capacity to as much as 10 million units by 2020 depending on demand. In raising output beyond 2015, the company may consider setting up a new plant in addition to its only North American facility at White, Georgia (United States).
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