February 22, 2013
KIYOSU, JAPAN – Japanese automotive supplier Toyoda Gosei Co. Ltd. is establishing a new company in Itapetininga, Brazil, that will manufacture rubber and plastic components.
The Kiyosu-based company is investing 90 million Brazilian real ($45.6 million) to set up the plant near São Paulo.
The company cited rising demand and the prospect for expanded auto production in South America.
Toyoda Gosei will own 94.8 percent of the company, which will be known as GDBR Indústria e Comércio de Componentes Químicos e de Borracha Ltda.
The plant is scheduled to start production in November 2014.
The operation will be Toyoda Gosei's first in South America.