Toyoda Gosei Co. Ltd. recently announced that it intends to buy a stake in Pecval Industria Ltd., a Brazilian company that makes plastic pieces for automobiles.
This move will enhance the business foundation of Toyoda Gosei, which has a growing market in Brazil.
Acquiring equity in Pecval, which is a wholly owned subsidiary of Shimizu Industry Co. Ltd. and a subsidiary of Denso Corp., will happen after the necessary procedures are finalized. After the agreement is completed, the capital investment will provide Toyoda Gosei with an equity stake amounting to 30 percent. The final agreement is scheduled to be finished by October.
The move will give Toyoda Gosei the ability to gain automakers as customers in two production areas within Brazil, including Pecval as well as GDBR Industria e Comercio de Componentes Quimicos e de Borracha Ltd., another Toyoda Gosei subsidiary that started production in 2014.
Toyoda Gosei, which was founded in 1949, has its headquarters in Japan. It is a top specialty manufacturer of plastic and rubber automotive parts as well as LEDs. It offers a variety of high-quality products around the world and has a network of approximately 100 offices and plants based in 18 regions and countries.
Toyoda Gosei to purchase stake in Pecval Industria
Alerts Sign-up