New Company Established in Thailand
In a move aimed at further strengthening its operational base in Thailand in the area of automotive rubber parts and seals, Toyoda Gosei Co., Ltd. (president: Tokio Horigome) has transferred managerial control of its relevant divisions to a new company created through the subdivision of its existing affiliate, Pongpara Codan Rubber Co., Ltd. (hereafter "PCR"), into two companies. With construction of the new company's factory having begun, Toyoda Gosei offers the following profile of this latest addition to the Toyoda Gosei group.
1. Profile of New Company
(1) Company name: Toyoda Gosei Rubber (Thailand) Co., Ltd.
(2) Established: 28 April 2000
(3) Products: Weatherstrips, low pressure rubber hoses, air conditioner hoses, rubber molded products
(4) Capitalized at: THB 400 million (¥1.2 trillion)
(5) Distribution of stocks: Toyoda Gosei Co., Ltd. 70% (PCR 30%)
(6) President: Toshinari Tanaka (currently vice-president of PCR)
(7) Head office location: Adjacent to PCR's existing No. 2 factory in Samutsakorn
(8) Number of employees: 280
(9) Commencement of operations: 1 July 2000 (planned date of transfer of commercial rights)
*Production at the new factory is scheduled to commence in July 2001.
(10) Factory size: Land area: 42,000 m2
Floor area: 21,000 m2 (including administrative wing and cafeteria)
2. PCR Operations after Subdivision
(1) Nature of business: Independent production and sales of aftermarket products
(2) : Toyoda Gosei's investment share: 17% (currently 33%)
Approx. 40 minutes by car from Bangkok