Toyoda Gosei Co., Ltd. announced that Toyoda Gosei UK Ltd. (TGUK) has informed its employees of a proposal to close the business in the United Kingdom (UK). TGUK will now enter a formal period of consultation with its employees regarding the proposed changes. The proposal is in response to continued changes in the global automotive sector, and a significant reduction in key UK customer demand. Due to these changes, Toyoda Gosei does not foresee growth of its business there and has decided to make this proposal.
Restructuring of its global business is one part of Toyoda Gosei’s efforts to achieve sustainable growth into the future. The company has taken previous steps to reorganize its business in Europe, selling its shares in a production subsidiary for automotive parts in Germany in December 2019 and moving some of production to its main European manufacturing site, Toyoda Gosei Czech, s.r.o. (TGCZ). It will continue to improve productivity and strengthen its European business with TGCZ in a central role.
Toyoda Gosei will respond swiftly and flexibly to the accelerating changes in the business environment with the aim of achieving sustainable growth into the future.
Outline of TGUK
|Name||Toyoda Gosei UK Ltd.|
|Location||Rotherham Plant (HQ) Rotherham, England|
Swansea Plant Swansea, Wales
|Capital||38 million pounds|
|Shareholders||Toyoda Gosei Co., Ltd. 91.09%|
Toyota Tsusho Corp. 8.91%
|No. employees||458 (as of March 31, 2021)|
|Products||Rotherham Plant Weatherstrips|
Swansea Plant Interiors & Exteriors
SOURCE: Toyoda Gosei