Toyoda Gosei expands in Mexico; invests US$67 mn

In view of the rapid growth of the Mexican automotive market, Toyoda Gosei North America Corporation, a whole-owned subsidiary of Japanese firm Toyoda Gosei, has invested US$67 million in a new manufacturing company in central Mexicoto meet a strong car production increase in the country. The new company, Toyoda Gosei Irapuato Mexico, S.A. de C.V. (TGIMX), located inIrapuato,Guanajuato State,Mexico, is scheduled to start operations in April 2016. It will supply radiator grilles, console boxes, and other plastic parts to automakers in the rapidly expanding North American market.

Toyoda Gosei already has three manufacturing firms in Mexico: TAPEX Mexicana, S.A. de C.V. (TAPEX) for safety systems such as airbags, Toyoda Gosei Automotive Sealing Mexico, S.A. de C.V. (TGASMX) for sealing products such as weatherstrips, and Toyoda Gosei Rubber Mexico, S.A. de C.V. (TGRMX) for functional components such as automotive rubber hoses. The fourth firm will bring coating and other plastic surface decorating technologies to the country, enabling Toyoda Gosei to supply value-added plastic parts from a location closer to the international Japanese, American, and European automakers there.

The company plans to hire approximately 280 employees by FY2019 and the number will increase with the expansion of the business.

Established in 1949 and headquartered in Kiyosu, Aichi Prefecture, Japan, Toyoda Gosei is a leading manufacturer of rubber and plastic automotive parts and LEDs. Today, the Toyoda Gosei group provides a variety of high quality products internationally, with a network of 94 plants and offices in 18 countries and regions.

(IMA)

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