July 18, 2011
Japan's Toyo Tire Invests RM1.2 Billion To Expand Operations In Perak
Tyre manufacturer from Japan, Toyo Tire & Rubber Co Ltd (Toyo Tire), which has
taken over Taiping based Silverstone Bhd (Silverstone), aims to increase its annual production of tyres to 15
million units in the next five years, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said
He said Toyo Tire, which acquired 100 per cent equity of the local tyre
manufacturer, will be investing RM1.2 billion to expand its operations in the South East Asia and Asian
"Two weeks back I was at Toyo Tire's headquarters in Osaka, Japan to meet its
President and Chief Executive Officer, Kenji Nakakura, and he had informed about the company's plans to expand its
operations in Perak with an investment of US$400 million (RM1.2 billion)," Mustapa told reporters following the
meeting of Nakakura and Menteri Besar Perak Datuk Seri Dr Zambry Abdul Kadir here Monday.
Mustapa said Toyo Tire's investment would cover plans to increase the existing
factory's production capacity in Kamunting, Taiping as well as for the construction of a new factory on a
20-hectare site in another area which has already been identified.
A significant share of the tyres produced in Taiping will be for export to the Asian market, he said.
In line with its expansion plan, Toyo Tire also plans to increase its labour force
from the current 1,400 workers to 2,400 workers at its factory in Kamunting.
An earlier report said Toyo Tire had bought Silverstone for RM470
Meanwhile, Dr Zambry said the entrant of big time investors like Toyo Tire into
the state was reflective of Perak's ability to continue to attract investments.