Toyoda Gosei Co., Ltd. is broadening its business foundations in Europe with the establishment of a new company in Germany and acquisition of valuable assets from Meteor Gummiwerke K.H. Bädje GmbH & Co. KG (Meteor), an automotive rubber products manufacturer headquartered in Bockenem, Germany. The establishment of an acquisition company is planned for January 2014. The acquisition will become effective only if and when the necessary conditions have been fulfilled.
Meteor boasts a strong reputation in sealing parts, especially for luxury cars, and supplies weatherstrips and other rubber components to Daimler AG, BMW AG, Audi AG and other European automakers. It manufactures these products at two plants in Germany and one plant in the U.S.
Toyoda Gosei will acquire all assets of Meteor, including proprietary technologies, expertise, and underlying human and other resources. This will help Toyoda Gosei to establish a firmer foothold in Europe and expand its business with automakers there.
| Outline of Toyoda Gosei’s new company in Germany (planned) | |
|---|---|
| Company name | Toyoda Gosei Meteor GmbH (TG Meteor) |
| Establishment | January 2014 |
| Location | Bockenem, Germany |
| Owner | 100% owned by Toyoda Gosei Co., Ltd. |
| Business | Sales of automotive sealing products |
| Plant | Two in Germany, one in the U.S. |
| Employees | Approximately 1,300 [consolidated] |
| Sales | Approximately €140 million (￥20 billion) for FY2014 [consolidated] |
