Toyota Boshoku Corporation and Denso Corporation will jointly establish a filter manufacturing company – Toyota Boshoku Foshan Co., Ltd. – in Foshan, Guangdong, China. The initial investment will be approximately $US17.8 million.
The new company will construct an approximately 172,000 square-foot-plant and plans to begin production of oil filters in July 2006. By 2010, the new company expects to employ 500 people and projects sales to reach approximately $21.5 million.
“We aim to increase production capacity for filters in China, as well as enhance our global supply capacity to respond to the growing market demand from automotive manufacturers worldwide,” said Yasuhiro Maki, currently project general manager of Filter & Powertrain Components Sales Division at Toyota Boshoku and soon-to-be president of Toyota Boshoku Foshan Co., Ltd.
This is the fifth overseas joint venture between Toyota Boshoku Corporation and Denso Corporation. The other joint ventures are in the United States, Poland, Thailand and Tianjin, China.