Toyoda Gosei to Enhance Production Capacity for Interiors/Exteriors in US
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
San Antonio, Texas
Toyoda Gosei North America Corporation* 100%
Toyoda Gosei North America Corporation 80%
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
Approx. 35,600 m 2
Approx. 91,500 m 2
Approx. 60,200 m 2
Approx. 23,400 m 2
Approx. 85,600 m 2
Approx. 58,500 m 2
8. No. of employees
* 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
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