Sep. 07, 2004
Production Subsidiary for Automotive Anti-Vibration Rubber Products in China
OSAKA, JAPAN – September 7, 2004 -Toyo Tire & Rubber Co., Ltd. hereby announces the establishment of Toyo Automotive Parts (Guangzhou) Co., Ltd., a wholly owned subsidiary in China for the production of automotive anti-vibration rubber products. It is the first Chinese production base for the Toyo Tire & Rubber’s automotive parts business.
In recent years, Japanese automakers have been building up their production capabilities in China, where motorization has been rapidly developing. Demand for automotive parts is expected to grow further in China as the market continues to expand. Against this backdrop, Toyo Tire & Rubber is preparing to meet the latent demand as it arises, with the founding of Toyo Automotive Parts (Guangzhou).
The anti-vibration rubber products business is a core competence of Toyo’s automotive parts business. To further bolster its capabilities, the Company has taken action to strengthen its anti-vibration rubber product operations worldwide. The Company has manufactured and sold its anti-vibration rubber products in Australia and Taiwan, while establishing Toyo Automotive Parts (U.S.A.), Inc., and forming an alliance in Europe, among other measures. The new Chinese production venture is another step in enhancing the Company’s position as a global supplier in the industry.
Outline of the new company in China
1. Company name: Toyo Automotive Parts (Guangzhou) Co., Ltd.
2. Location: Yonghe Economic Zone, Guangzhou Economic and Technological Development Zone, Guangzhou, China
3. Chairman: Masahiro Ushio
4. Capital: US$11million
5. Schedule: Operations to begin autumn, 2005
Corporate Communications: Takashi Yasuda E-mail : email@example.com
TOYO TIRE & RUBBER CO., LTD. CORPORATE COMMUNICATIONS PLANNING
Hyogo Head office Telephone: +81-72-789-9100 Facsimile: +81-72-773-3272
Tokyo office Telephone: +81-3-5822-6621 Facsimile: +81-3-3865-2240