Toyoda Gosei will acquire a 100% stake in Pecval Industria (Pecval), a manufacturer of automotive interior and exterior parts in Brazil, by December 2017. This move is intended to consolidate Toyoda Gosei’s business foundation in the country’s promising market.
Currently, Pecval is jointly owned by Toyoda Gosei and Shimizu Industry. The two companies have agreed that Toyoda Gosei will acquire full equity interest from Shimizu.
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Toyoda Gosei has two business locations in Brazil, Pecval and GDBR Industria e Comercio de Componentes Quimicos e de Borracha, which supply interior and exterior parts, safety systems, and weatherstrips to automakers. Making Pecval a full subsidiary will strengthen Toyoda Gosei’s supply system for interior and exterior parts to better meet the purchasing needs of customers.
Headquartered at Aichi, Japan, Toyoda Gosei Co Ltd engages in the research, development, manufacture and sales of various categories of automotive components and light-emitting diodes (LEDs). It is a member of the Toyota Group, which holds a 42.85% stake in the company.
