Toyoda Gosei strengthens position in India
Kiyosu, Japan – Toyoda Gosei has acquired the equity shares that Kirloskar Systems Ltd (KSL) holds in the Bangalore, India-based TG Kirloskar Automotive.
Set up in 1998 as a Toyoda Gosei production subsidiary, TG Kirloskar Automotive was jointly owned with KSL and Toyota Tsusho.
The Indian company produces automotive steering wheels, airbags and other safety systems, as well as interior and exteriors such as instrument panel components.
TG Kirloskar has now changed name to Toyoda Gosei South India Pvt. Ltd. (TGSIN).
Toyoda Gosei now owns 95 percent of TGSIN with the remaining 5 percent belonging to Toyota Tsusho.
The deal, said the Japanese group, is intended to strengthen its position inthe growing Indian automotive market.