Toyo to set up auto parts unit in China

From Rubber & Plastics News

Osaka, Japan-Toyo Tire & Rubber Co. Ltd. is setting up a subsidiary in Guangzhou, China, to make rubber automotive anti-vibration components for the growing number of Japanese auto makers with assembly operations in China.

Toyo said Toyo Automotive Parts (Guangzhou) Co. Ltd., a wholly owned subsidiary, is expected to begin production in the fall of 2005. The unit is capitalized at $11 million.

This is Toyo's third plant outside of Japan for producing anti-vibration components. The firm opened a facility in Franklin, Kentucky, in 2002 after bolstering this business unit in 2001 buy acquiring the AVS business of Toyoda Gosei Co. Ltd.

It also operates a factory in Enfield, Australia, and a joint venture in Taiwan for automotive parts.

Toyo's AVS business generates more than $250 million in sales annually.