CYPRESS, Calif. (June 26)—Toyo Tire (U.S.A.) Corp. is raising tire prices by as much as 3 percent as of Aug. 1, and moving to a new headquarters a short distance from its current facility on July 1. Citing rising raw material and energy costs, the U.S. unit of Japan´s Toyo Tire & Rubber Co. Ltd. said it will hike passenger tire prices 3 percent and light truck tires up to 3 percent. Toyo is the 10th tire maker in the U.S. to increase prices this summer. Toyo's move into a new building in Cypress will place it two buildings away from the current facility. The new office contains 23,000 square feet of space and offers a more customized office environment for greater efficiency, Toyo said. The tire maker added that steady growth in the U.S necessitated the move to larger more efficient office space.
Toyo increasing tire prices, moving U.S. headquarters
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