ERJ staff report (LMH)
Komaki City, Japan – Tokai Rubber Industries Ltd is to acquire Produflex Minas Industria de Borrachas Ltda, a Brazilian manufacturer of automotive rubber parts.
TRI also intends to establish a market research company in Brazil – TRI Brazil – which will acquire the shares of Produflex MG, making it an indirect subsidiary of TRI.
Produflex makes automotive anti-vibration systems mainly in Brazil, but also has sales channels to Europe-based automotive makers in Brazil, TRI said. The Japanese company said the South American automotive market is “rapidly expanding on the back of booming demand”. TRI said with this acquisition, it has completed its establishment of production bases in all of the world’s major automotive markets.
This is TRI’s second AVS acquisition in 2013, following its purchase of German Anvis Group GmbH .
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News Release from Tokai Rubber Industries