Riken is a popular tire brand owned by Michelin. Initially based in Japan, Riken Gomu Industry works in the field of physical sciences and chemical research of 1917 Later, the company diversified its activities and ventured into the manufacture of tires under the brand name of RIKEN. The name is actually an abbreviation of "Riken Gomu", the original name of the company. In 1979. company RIKEN started exporting tires to the United States. After this, the company is developing very quickly and started exporting tires and Europe, becoming a full-fledged manufacturer of tires. In 1992, RIKEN registered as a brand of the company Michelin Okamoto Tire Corporation. After the acquisition by Michelin, the brand began to be pronounced as RIKEN, in the American way.
Group Michelin and its subsidiary Tigar Tyres signed a contract in 2014 to expand the production capacity of the factory Tigar Tyres Pirot, which is located 300 km southeast of Belgrade.
The agreement extends to increase the production capacity of the plant by 8 million tires in 2012 to 12,000,000 tires at the end of the year 2016. The factory produces and will continue to produce very low-end tires, which are sold under the brands Tigar, Kormoran and RIKEN all of which are in the portfolio of Michelin Group. The expansion of the plant was started in early 2013 and the first tires must come from new production lines in the middle of 2015. Most of the tires produced by the factory in Pirot will deliver a fast-growing Russian market and the markets of Central and Eastern Europe, Africa and the Middle East. Overall, the project will represent an investment of € 170 million for the period 2012-2016. In the long run, the new unit will create 700 jobs in Pirot.