Toyoda Gosei to Increase Airbag Part Production Capacity in Vietnam
KIYOSU, Japan--(BUSINESS WIRE)--Nov 12, 2019--
Toyoda Gosei Co., Ltd. (TOKYO:7282) will increase the production capacity at Toyoda Gosei Haiphong Co., Ltd. (TGHP), a production subsidiary making airbag parts in Vietnam, to meet the growing demand for airbags globally.
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TGHP Thai Binh Plant (conceptual drawing after expansion) (Graphic: Business Wire)
A new building will be constructed at the company’s Thai Binh Plant and annual production capacity of the bags that inflate on impact in Vietnam will be increased to 2,500 bags by 2023, about 1.5 times the FY2018 level. Investment for this plant expansion will be about USD16.8 million. The construction of the new building and production at this plant will start from May 2020 and October 2021, respectively.
Airbags and other safety system products are a key business in Toyoda Gosei’s 2025 Business Plan, and by 2023 the company plans to increase global airbag production to 100 million units annually, approximately 1.6 times the level in FY2018.
Outline of TGHP
1. Company name
Toyoda Gosei Haiphong Co., Ltd.
Headquarters Plant: Haiphong City
Thai Binh Plant: Tien Hai Industrial Park, Thai Binh Province
Toyoda Gosei Co., Ltd. 95%; Toyota Tsusho Corp. 5%
Headquarters Plant: Land 135,000 m 2; buildings: approx. 60,000 m 2
Thai Binh Plant: Land ~113,000 m 2; buildings: approx. 55,000 m 2
( before expansion: approx. 20,000 m 2 )
Headquarters Plant: Approx. 3,800
7. No. of employees
Thai Binh Plant: Approx. 2,000 (planned, as of the end of FY2023)
( before expansion: approx. 700 as of Sept. 2019)
Airbag parts (bags), steering wheels
View source version on businesswire.com:https://www.businesswire.com/news/home/20191112005509/en/
CONTACT: Toyoda Gosei Co., Ltd.
Contact: Yusuke Kawahito
KEYWORD: JAPAN VIET NAM ASIA PACIFIC
INDUSTRY KEYWORD: AFTERMARKET AUTOMOTIVE AUTOMOTIVE MANUFACTURING TECHNOLOGY MANUFACTURING HARDWARE
SOURCE: Toyoda Gosei Co., Ltd.
Copyright Business Wire 2019.
PUB: 11/12/2019 11:00 PM/DISC: 11/12/2019 11:00 PM