17 December 2012

Toyota Boshoku hikes stake in Polish JV, makes it a subsidiary

- JV between Toyota Boshoku, MECAPLAST Group and Denso
- JV produces filters and powertrain components

Kariya, Japan - 17 December 2012 - Toyota Boshoku Europe N.V. (Belgium), the European regional management company of Toyota Boshoku Corporation (Head office Kariya, Japan), has increased its stakes in the Polish joint venture TBMECA POLAND Sp.z o.o. and made it a subsidiary.

TBMECA is a joint venture between three companies: Toyota Boshoku Europe, the MECAPLAST Group(Head office Monaco) and DENSO International Europe B.V. (the Netherlands), which is a subsidiary of DENSO Corporation (Head office Kariya, Japan). It produces filters and powertrain components, and supplies the European operation bases of Toyota Motor Corporation as well as other automakers.

Toyota Boshoku Europe recently acquired 24.9% of the 50% shares owned by MECAPLAST, raising its stakes from 30% to a 54.9% majority share, thereby making TBMECA its subsidiary. The acquisition will strengthen the Toyota Boshoku group’s management base in Europe.

Source: Toyota Boshoku