Toyoda Gosei to Enhance Production Capacity for Interiors/Exteriors in US
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.
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% |
Toyoda Gosei North America Corporation 100% |
|
|
6. Land area |
Approx. 120,000 m2 |
Approx. 1,109,750 m2 |
Approx. 327,750 m2 |
|
|
7. Building area |
After |
Approx. 35,600 m2 |
Approx. 91,500 m2 |
Approx. 60,200 m2 |
|
Before |
Approx. 23,400 m2 |
Approx. 85,600 m2 |
Approx. 58,500 m2 |
|
|
8. No. of employees |
455 |
2,107 |
1,134 |
|
|
9. Products |
Interior/exterior products |
Interior/exterior products |
Interior/exterior products |
|
|
|
|
|
|
|
|
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/