KARIYA, Japan--August 28, 2013: Toyota Boshoku Corporation (TOKYO:3116), a premier manufacturer of automotive interior systems, is pleased to announce that its Asian regional management hub, Toyota Boshoku Asia Co., Ltd., will establish a new automotive interior components production company, BOSHOKU AUTOMOTIVE (THAILAND) CO., LTD., to supply interior components, filter and powertrain components in Thailand.
An investment of approximately 18 million US$ was made to set up the new automotive interior company with the aim of expanding production capacity and establishing an optimal supply system to best meet the needs of nearby automotive manufacturers in a quick and efficient manner. The new company, Boshoku Automotive (Thailand), will start production of silencers and other interior components in the latter half of 2014 and with the aim to expand future business to include seats and door trim, will be set up to flexibly handle individual component orders.
Toyota Boshoku, starting with its main customer Toyota Motor Corporation, is proactively expanding new business with global automotive manufacturers. Toyota Boshoku Asia plays a central role in Asia in establishment of optimal production and system to supply interior components and filter and powertrain components.
Toyota Boshoku will continue to strengthen its R&D functions in all its regions and offer customers worldwide appealing, comfortable and safe automobile interior space.
About Boshoku Automotive (Thailand) Co., Ltd.
Boshoku Automotive (Thailand) Co., Ltd. will be established in Rayong Province, the Kingdom of Thailand in November 2013 and is scheduled to be headed by Yoshitsugu Tanaka. Toyota Boshoku Asia Co., Ltd. invested approximately 600 million Thai Baht (approx. 18 million US$) in its 100% subsidiary and set it up with a capital of 482 million Thai Baht (approx. 15 million US$). By 2016 a workforce of approximately 80 will manufacture automotive interior components including silencers, package trays and luggage mats in a building of 14,000m2 in size on a site of 64,000m2.
About Toyota Boshoku group
Toyota Boshoku group, one of the world's premier interior systems suppliers and filter manufacturers, develops and produces interior components, filtration and power train components at about 100 sites in 26 countries around the world. During the fiscal period ending in March of 2013, Toyota Boshoku had consolidated sales of 1,079 billion yen (approx. 13 billion US$), and operating income of 25 billion yen (approx. 30 million US$). Its subsidiary, Toyota Boshoku Asia Co., Ltd. was established in Thailand in June 2001 and is a leading manufacturer of automotive seating and interior components with 22 production sites in Thailand, Indonesia, the Philippines, Vietnam and other countries throughout the Asian region.