(Kariya, Japan) June 9, 2011 — Toyota Boshoku Corporation (TOKYO:3116) today signed an agreement with POLYTEC Holding AG (Austria, “POLYTEC”) to acquire POLYTEC’s interior business. The interior business currently comprises eight manufacturing sites in Germany, Poland and South Africa and one development/research site in Germany. This newly acquired interior business will, once the transaction has been completed by end of June, operate as BOSHOKU AUTOMOTIVE EUROPE GmbH, based in Geretsried, Germany.
The interior business so acquired currently serves major German automobile manufacturers including BMW, Daimler, Volkswagen and Opel as a key supplier for interior parts (e.g. door trims and ceilings), and thus interior business possesses special know-how and profound experience in delivering high-quality products, which are unique to European cars.
“Toyota Boshoku group has been aggressively promoting business operations to win business around the world, with the aim to become a comprehensive interior manufacturer. With this acquisition, Toyota Boshoku is able to enhance its interior technologies expertise and gain access to European automobile manufacturers at the same time.” said Shuhei Toyoda, the President of Toyota Boshoku. “We are set to provide attractive and high quality products to customers, utilizing the Monozukuri (manufacturing) skills we have developed. We furthermore aim to expand our car seats business to the European automobile manufacturers on a global basis.”
Toyota Boshoku will continue to provide more attractive, comfortable and safe driving environment to customers worldwide by improving our unique technologies that can handle all types of customer needs through close collaboration with automobile manufacturers around the world.
Scale of interior business acquired from POLYTEC(Year ending December 2010)
| 1. Revenues | ~340 million Euro |
| 2. EBITDA | ~15 million Euro |
| 3. Number of employees | ~2,000 |
Overview of BOSHOKU AUTOMOTIVE EUROPE
| 1. Company name | BOSHOKU AUTOMOTIVE EUROPE GmbH |
| 2. Headquarter | Geretsried, Germany |
| 3. Representative | CEO Yasunobu Hara |
| 4. Business operations | Development, manufacture, and sales of automotive interior components |
| 5. Date of establishment | 2011 |
| 6. Shareholder | TOYOTA BOSHOKU EUROPE N.V. 100% |
| 7. Number of operation site | Germany: 1 development/research site, 6 manufacturing sites Poland: 1 manufacturing site (BOSHOKU AUTOMOTIVE POLAND Sp.z o.o.) South Africa: 1 manufacturing site (BOSHOKU AUTOMOTIVE SOUTH AFRICA (Proprietary) Ltd.) |
About Toyota Boshoku group
Toyota Boshoku group, one of the world’s premium interior systems suppliers and filter manufacturers, develops and produces interior components, filtration and power train components at its 87 operation sites all over the world. During the fiscal period ending in March of 2011, Toyota Boshoku had sales of 8,696 million Euro (consolidated), and operating income of 325 million Euro, positioning it as the third largest interior manufacturer in the world, and the largest in Japan (according to internal research).