Toyoda Gosei Co., Ltd. will purchase a stake in Brazilian plastic auto parts maker Pecval Industria Ltda., a producer of plastic interior and exterior parts for automobiles. Toyoda Gosei said this will strengthen its business foundation in the growing market of Brazil.
Pecval is a wholly owned subsidiary of Japan’s Shimizu Industry Co., Ltd., which is a subsidiary of Denso Corporation. Toyoda Gosei will acquire equity in Pecval from Shimizu Industry after completing the necessary procedures. The capital investment is scheduled for October 2015, and will give Toyoda Gosei a 30-percent equity stake, according to the company.
With this strategic move, Toyoda Gosei will be able to supply automakers from two production locations in Brazil: Pecval and GDBR Industria e Comercio de Componentes Quimicos e de Borracha Ltda. (Itapetininga, Sao Paulo), a Toyoda Gosei subsidiary that began production in December 2014.