Toyoda Gosei to fully own Chinese rubber parts maker

- Apr 13, 2018-

KIYOSU, Japan—Toyoda Gosei Co. is acquiring all equity in China-based automotive rubber parts maker Tianjin Star Light Rubber and Plastic Co.

Tianjin Star Light, which manufactures weatherstrips, is jointly owned with Kinugawa Rubber Industrial Co. Ltd. and Starlight Rubber & Plastic Development. It will become a wholly-owned subsidiary of Toyoda Gosei this month.

Tianjin Star Light employs nearly 1,000 people and had approximately $75.9 million in sales last year.

Toyoda Gosei said it would continue expanding in China as it viewed the country as a "key market with promising growth."