Gujarat plant airbags to Suzuki Motor.
Japan’s Toyoda Gosei Co Ltd is bullish on India and is expanding in the market with a Rs.732 million new plant to supply airbags, weather strips and other automotive parts to meet increasing demand as stricter safety regulations are enforced in India.
Located in the western Indian state of Gujarat, Toyoda Gosei Minda India Private Limited (TGMIN) will begin supplying to Suzuki Motor Gujarat (SMG) in the second half of fiscal 2018.
Toyoda Gosei said it viewed India as an important market, and has been expanding production capacity in the country.
After the new plant comes on line, Toyoda Gosei, as a subsidiary, will have a production network of five plant locations in India.
Total sales in India were approximately Japanese Yen14 billion in FY2016. It aims to expand this 1.4-fold to approximately Yen20 billion by 2021.
It has forecast approximately Rs. 2.5 billion sales in financial year 2021. The new plant will about 330 employees.
Established in 1949 and headquartered in Kiyosu, Aichi Prefecture, Toyoda Gosei is a leading specialty manufacturer of rubber and plastic automotive parts and LEDs.
Today, the Toyoda Gosei Group provides a variety of high-quality products internationally, with a network of approximately 100 plants and offices in 18 countries and regions.
Through its flexible, integrated global supply system and leading-edge technologies for automotive safety, comfort, and environmental preservation, Toyoda Gosei is a global supplier that aims to deliver the highest levels of quality, innovation, and satisfaction to customers worldwide. fii-news.com
