ERJ Staff Report (LMH)
Tokyo, Japan - Tokai Rubber Industries has formed a joint venture with Anvis Group of Germany to manufacturer automotive anti-vibration rubber components in QuerÃ©taro, Mexico.
The Japanese company will invest yen 500 million (Euro 4.4 million) in the production facilities. Tokai will own 51 percent of the new company, called Tokai Rubber de MÃ©xico, and Anvis the other 49 percent.
As part of the collaboration, Tokai has agreed to acquire a 49 percent interest in Anvisgroup Mexico, also located in QuerÃ©taro, Mexico
Production is due to be begin in October 2013, Tokai said in a statement. The site is expected to employ around 200 by fiscal 2015.
The JV will service the local market, as well as other North and South American countries, with the aim of increasing Tokai's market share in those areas.