Toyota Boshoku to Establish New Company to Manufacture Seats and Door Trims in South Africa

Tokyo (JCNN) - Toyota Boshoku and Toyota Tsusho will establish a joint venture company to produce seats and door trims for vehicles in Durban, South Africa on June 30. Through the move, Toyota Boshoku aims to strengthen its global supply capability.

To be capitalized at 3.2 billion yen ($29 mil), the new company will procure essential parts and functional parts from Toyota Boshoku, assemble seats for vehicles, and deliver them to Toyota South Africa Motors.

The joint venture will launch operation in April 2006, aiming for sales of 14.4 billion yen ($132 mil) in 2007.