JAPAN: Toyota Boshoku hikes Polish JV stake
Toyota Boshoku's European unit has raised its stake in a Polish joint venture to make it a subsidiary to strengthen its management base in Europe.
Toyota Boshoku Europe NV's shareholding in Tbmeca Poland is now 54.9%, up from 30%. The supplier makes filters and powertrain parts. Toyota has an engine and transmission plant in Poland.
Tbmeca is a joint venture of Toyota Boshoku Europe, Monaco-based Mecaplast Group and Denso International Europe.
Toyota Boshoku Europe bought part of Mecaplast's Tbmeca shareholding which is now 25.1% (from 50%) after this transaction.
Toyota Boshoku declined to say the cost of its share acquisition.