Toyobo has made the decision to establish a sales company for airbag fabrics in Michigan, the United States, for strengthening of its business in North America.
Toyobo will procure the manufacturing of the fabrics from Polyamide High Performance, Inc, and sell the products in the US market.Toyobo has made the decision to establish a sales company for airbag fabrics in Michigan, the United States, for strengthening of its business in North America.
Toyobo will procure the #
The operation is scheduled to begin in December 2012.
1. Outline of the new company
(Sales Company)
Company name: TOYOBO INDUSTRIAL MATERIALS AMERICA INC.
Date of establishment: April, 2012
Paid-in capital: $9 million
Ownership: Toyobo, 100%
Location: Novi, Michigan state, U.S.
Number of employees: 5
Lines of business: Sales of airbag fabrics
2. Background of Establishment
Toyobo has been manufacturing airbag fabrics in Japan, Thailand and China, and has been selling the output mainly to the Japanese automotive parts manufacturers. Recently, Japanese automotive manufacturers have been promoting their local production, as a result of that background and increasing demand for emerging markets such as BRICs and tightening of laws in the United States, Toyobo has decided to expand its business in North America.
3. About Business Scheme
Toyobo has had cooperative partnerships with PHP in the field of airbag yarn business for many years. The new sales company will procure the nylon66 yarns for airbag fabrics from PHPI, who will also manufacture the fabric in its new established subsidiary based on technology provided by Toyobo. The company will sell airbag fabrics mainly to the Japanese automotive parts manufacturers in North America and support their local production.
4. Future Plans
• The new sales company will be established in April 2012. The production is scheduled to begin in July, and start to sell in December 2012. The total investment of this business will be approximately one billion JPY.
• Toyobo has manufactured airbag fabrics not only in Japan but also in Thailand, and also started full-scale production in China since this April.
• Toyobo will expand its airbag fabric business worldwide with newly joined base in North America.
In Japan, Toyobo was founded in 1882 as a textile company, when it began its spinning and textile business.
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