Toyoda Gosei to Establish New Auto Component Plant
NAGOYA, Feb. 22 (Kyodo) — Toyoda Gosei Co. said Friday it will build a new plant in Brazil to produce auto components starting in November 2014.
Toyota Gosei, an affiliate of Toyota Motor Corp., said it will invest 90 million real (about 4 billion yen) on the plant to produce rubber and plastic automotive components as vehicle production in South America is expected to grow.
The plant in Itapetininga, Sao Paolo, will be Toyoda Gosei's first production facility in South America.
The company said it will aim for annual sales of 60 million real, or about 2.7 billion yen, in 2017.