JAPAN: Toyoda Gosei to build auto parts plant in Brazil
Japan's Toyoda Gosei will build a plant in a Sao Paulo suburb for the production of rubber and plastic automotive components to meet growth in the Brazilian auto market.
It will be the Toyota Motor-affiliated autoparts maker's first production base in South America, Jiji Press reported. With a capital of BRL90m, it will set up a company for production. Products will be chiefly supplied to Toyota initially.
The new company plans to start production in November 2014 and targets annual sales of some BRL60m in 2017 by expanding sales to other automakers, Toyoda Gosei officials said.
The plant, to be built in Itapetininga, 150km west of Sao Paulo, will make automotive sealing products such as glass runs, airbags and other safety system products, as well as interior and exterior products such as instrument panel components.