The RM813mil phase two (stage one) manufacturing facility located on a 59.9ha site at the Kamunting Raya industrial area, is divided into two stages that includes the construction of the plant and installation of additional production equipment.
TTM is a subsidiary company of Toyo Tire Corporation.
Toyo Tire Corporation president and chief executive officer Takashi Shimizu said the plant would not only reinforce its global tyre manufacturing capabilities but also serve as the supply hub to various markets such as Europe, Japan, Middle East, the United States and Asia.
He thanked the federal and state government for their cooperation and support in making TTM what it is today.
“We have enormous confidence in Malaysia, and have invested approximately RM1.6bil to date. Our investment is due to the country’s political stability, sustainable economic growth, conducive investment environment, good infrastructure, as well as highly skilled and productive workforce,” he said in his speech during the launching of the plant yesterday.
The guest-of-honour was Deputy International Trade and Industry Minister Dr Ong Kian Ming. Also present was TTM president Mike Toh.
Toh said with the expansion, about 500 employees would be hired to add to the current 1,100 workforce, following the plant’s first stage of expansion.
“The first stage will be fully completed by May next year. It would increase production capacity by another 2.4 million tyres to a total capacity of 7.4 million per year.
“This would then make TTM the largest tyre plant in Malaysia,” he said.
Toh added that the hiring of the 500 new staff was in collaboration with Human Resources Ministry to provide skill training in industrial automation to build a local skilled workforce.
“TTM has the distinction of being the most modern and latest manufacturing factory in the country that produces superior high quality tyres,” he said.
Ong, in his speech, said he was happy to witness the realisation of quality investments, which would contribute to the employment and livelihood of the local community.
“I was informed that since its establishment in 2011, TTM has invested over RM1.1bil with more than 1,000 workers, 99% of whom are locals.
“This factory serves as a hub for the group’s global product supply and is currently producing five million tyres annually for domestic and export markets.
“Phase two will increase production to 7.4 million units and create additional employment opportunities for some 500 locals,” he said.