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Toyoda Gosei Establishes New Safety Systems Subsidiary in South Africa

August 03, 2005
Toyoda Gosei Co., Ltd
 

Aichi, Japan, August 3, 2005 – Toyoda Gosei Co., Ltd announced today the establishment of a new safety systems subsidiary in the city of Durban, in the Republic of South Africa. Toyoda Gosei South Africa (Pty) Ltd. (TGSA) will assemble and provide safety system parts such as airbag modules to cars manufactured by Toyota South Africa Motors (Pty) Ltd., (TSAM), an affiliate of Toyota Motor Corporation (Katsuaki Watanabe, president). The principal shareholders are Toyoda Gosei (65%), Smith Plastics (20%), and Toyota Tsusho Africa (15%). Start-up capital of 6,250,000 rand (approximately 100 million yen) has been committed. Construction is scheduled to commence in November 2005 on a 700? production facility at a leased site located in Toyota Tsusho Techno Park in Durban, KwaZulu-Natal Province. TGSA plans to start production in February 2007. Four executives have been appointed to the Board of Directors. TGSA is projected to hire 13 employees by 2008, with sales for 2008 forecasted at 900 million yen.