Toyota Boshoku and Denso to Establish Filter Manufacturing Company in China

Tokyo (JCNN) - Toyota Boshoku and Denso announced on April 20 that the companies will jointly establish a filter manufacturing company in Foshan, Guangdong, China this month. To be capitalized at $9.6 million, Toyota Boshoku Foshan (tentative name) will be owned 60% by Toyota Boshoku and 40% by Denso.

The partners aim to increase their global supply capacity by launching production in China in order to respond to the growing demand from car makers setting up manufacturing operations there.

The new joint venture will begin production of oil filters in July. By 2010, it expects to employ 500 people and achieve sales of approximately $21.5 million.