Toyoda Gosei Increases Interior and Exterior Automotive Parts Production Capacity in USA

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Toyoda Gosei Co., Ltd. (TOKYO:7282) will invest $59.9M (USD) to increase production capacity at two of its American subsidiaries, TG Missouri Corporation (TGMO) and TG Kentucky, LLC (TGKY), to keep up with growing sales of interior and exterior automotive parts in the key North American market.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, January 26, 2024
Information
Tags: 
Alternative Vehicles, Fuels, Technology, EV, Electric Vehicles, Aftermarket, Automotive, General Automotive, Chemicals, Plastics, Automotive Manufacturing, Manufacturing, Hardware, Business plan, Multimedia, Outline, Car, Gosei, Internet of things, USD
Geotags: 
UNITED STATES, JAPAN, NORTH AMERICA, ASIA PACIFIC, INDIANA, MISSOURI, KENTUCKY, MICHIGAN
⚠ partially generated by AI ↴
Organisation: 
TOYODA GOSEI, TOYODA GOSEI CO., LTD.
Stock Symbol: 
TOKYO:7282
Summary
Key Points: 
  • Toyoda Gosei Co., Ltd. (TOKYO:7282) will invest $59.9M (USD) to increase production capacity at two of its American subsidiaries, TG Missouri Corporation (TGMO) and TG Kentucky, LLC (TGKY), to keep up with growing sales of interior and exterior automotive parts in the key North American market.
  • It is also incorporating the latest production technology, such as product assembly and transport automation and IoT systems that centrally manage production processes, and optimizing production layouts.
  • North America is a key market in Toyoda Gosei’s medium- to long-term business strategy (2030 Business Plan).
  • Going forward, the company will expand its development and production network to flexibly and rapidly meet customer needs in this essential market.


Toyoda Gosei Co., Ltd. (TOKYO:7282) will invest $59.9M (USD) to increase production capacity at two of its American subsidiaries, TG Missouri Corporation (TGMO) and TG Kentucky, LLC (TGKY), to keep up with growing sales of interior and exterior automotive parts in the key North American market.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240125937091/en/

Production network for interior/exterior parts in North America (Graphic: Business Wire)

Production network for interior/exterior parts in North America (Graphic: Business Wire)

In the coming years automakers are expected to introduce more diverse lineups of vehicle types, including battery electric vehicles and others. With a view to this evolution in automobiles, Toyoda Gosei will establish a network that can provide products with a wide range of variations, such as many different types of large painted products that are front and rear components of automobiles.

For this purpose, the company is enlarging plant buildings and installing large, energy-efficient electric molding machines and highly efficient painting booths. It is also incorporating the latest production technology, such as product assembly and transport automation and IoT systems that centrally manage production processes, and optimizing production layouts.

North America is a key market in Toyoda Gosei’s medium- to long-term business strategy (2030 Business Plan). Going forward, the company will expand its development and production network to flexibly and rapidly meet customer needs in this essential market.

Outline of TGMO and TGKY, where production capacity is being enhanced

Name

TG Missouri Corporation

TG Kentucky, LLC

Established

April 1986

November 1997

Capital

USD 30 million

USD 54 million

Shareholders

Toyoda Gosei North America Corporation* 80%

Mitsui & Co., Ltd. 20%

Toyoda Gosei North America Corporation 100%

Plants

Perryville Plant (HQ)

Indiana Plant

―

Location

Perryville, Missouri

New Albany, Indiana

Lebanon, Kentucky

Products

Interiors and exteriors

Safety systems

Interiors and exteriors

Interiors and exteriors

Functional components

Land area

Approx. 995,000 m2

Approx. 102,000 m2

Approx. 327,000 m2

Building area

Approx. 120,000 m2

After expansion

→ Approx. 123,000 m2

Approx. 26,000 m2

Approx. 58,000 m2

After expansion

→ Approx. 66,000 m2

Employees

1,715 (as of December 31, 2023)

379 (as of December 31, 2023)

1,057 (as of December 31, 2023)

Main new equipment and machinery

Molding machines, assembly equipment, collaborative robots, automated guided vehicles (AGVs)

Molding machines, assembly equipment

Molding machines, painting equipment, collaborative robots, automated guided vehicles (AGVs)

Start of operations

Planned for December 2025 (in new building additions)

New investment amount

USD 21 million

USD 38.9 million

* Toyoda Gosei Group headquarters for the Americas

 

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