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Toyoda Gosei to Enhance Production Capacity for Interiors/Exteriors in US

November 20, 2019 GMT

KIYOSU, Japan--(BUSINESS WIRE)--Nov 19, 2019--

Toyoda Gosei Co., Ltd. (TOKYO:7282) will enhance its production capacity for interior and exterior products at three production subsidiaries in the USA to keep up with growing sales of large products such as radiator grilles in North America.

The company will invest a total of USD60.3 million in three companies, Toyoda Gosei Texas LLC, TG Missouri Corporation, and TG Kentucky LLC by the end of FY2021. It will be used to expand plant buildings and increase equipment such as molding machines and painting equipment. With this investment, the Toyoda Gosei Group intends to grow North American sales of interior and exterior products to approximately JPY87 billion by FY2025, an increase of about 1.3 times over FY2018 sales.

Toyoda Gosei positions North America as a key market in its 2025 Business Plan, the company’s medium- and long-term business plan. The company will continue to expand its development and production network in the US in order to respond flexibly and rapidly to the needs of customers in this market.

Outline of three companies whose production capacities will be increased

1. Company name

Toyoda Gosei Texas, LLC

TG Missouri Corporation

TG Kentucky, LLC

2. Location

San Antonio, Texas

Perryville, Missouri

Lebanon, Kentucky

3. Founded

January 2005

April 1986

November 1997

4. Capital

USD22 million

USD30 million

USD54 million

5. Shareholders

Toyoda Gosei North America Corporation* 100%

Toyoda Gosei North America Corporation 80%
Mitsui & Co., Ltd. 20%

Toyoda Gosei North America Corporation 100%

6. Land area

Approx. 120,000 m 2

Approx. 1,109,750 m 2

Approx. 327,750 m 2

7. Building area

After

Approx. 35,600 m 2

Approx. 91,500 m 2

Approx. 60,200 m 2

Before

Approx. 23,400 m 2

Approx. 85,600 m 2

Approx. 58,500 m 2

8. No. of employees

455

2,107

1,134

9. Products

Interior/exterior products

Interior/exterior products
Safety system products

Interior/exterior products
Functional parts

 

 

 

 

Investment amount

Breakdown

USD35.1 million

USD17 million

USD8.2 million

Total

USD60.3 million

* Toyoda Gosei North America Corporation is a full subsidiary of Toyoda Gosei Co., Ltd. and headquarters for the Americas.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191119005009/en/

CONTACT: Toyoda Gosei Co., Ltd.

Contact: Takatomo Abe

inquiry@mail.toyoda-gosei.co.jp

KEYWORD: UNITED STATES JAPAN NORTH AMERICA ASIA PACIFIC MISSOURI KENTUCKY MICHIGAN TEXAS

INDUSTRY KEYWORD: AUTOMOTIVE MANUFACTURING MANUFACTURING OTHER AUTOMOTIVE AFTERMARKET AUTOMOTIVE

SOURCE: Toyoda Gosei Co., Ltd.

Copyright Business Wire 2019.

PUB: 11/19/2019 11:00 PM/DISC: 11/19/2019 11:01 PM

http://www.businesswire.com/news/home/20191119005009/en