Toyoda Gosei expands in China

摘要

JAPAN: Toyoda Gosei Co.Ltd(TG) is paying about $7.1 million for a 60% stake in Hubei Rock Rubber and Seal Technology Co.Ltd to strengthen its automotive parts business in China.Parent company Hubei Zhengao Automotive Accessories Co.will retain the remaining 40% as a minority joint venture partner in Hubei Rock of Shiyan,China.Hubei Rock supplies both EPDM and thermoplastic vulcanisate-based weatherstrips,mainly to Dongfeng Motor Corp.,which TG describes as one of China's”big three”auto makers.The company employs around 28 people at its 465,000-sq.-ft.facility and generated $11.8 million in sales in fiscal 2017.