Kiyosu, Japan – Toyoda Gosei Co. is acquiring all equity in China-based automotive rubber parts maker Tianjin Star Light Rubber and Plastic Co., the company announced 30 March.
Tianjin Star Light, currently jointly owned with Kinugawa Rubber Industrial Co. Ltd and Starlight Rubber & Plastic Development is set to become a wholly-owned subsidiary of Toyoda Gosei in April.
Tianjin Star Light manufactures weatherstrips and employs nearly 1,000 people. It had approximately Yen8 billion (€61 million) of sales last year.
The Japanese company said sole ownership would “speed up management decisions at Tianjin Star Light for effective use of group resources in all of China.”
Toyoda Gosei said it would continue expanding in China as it viewed the country as a “key market with promising growth.”