Toyoda Gosei will invest US$ 35.5 million to increase production up to 50%
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Toyoda Gosei Co. Ltd. plans to expand its facility in Mexico with a $35.5 million investment in response to increased automotive demand in North America.
The firm said in an news release that its subsidiary Toyoda Gosei Automotive Sealing Mexico S.A. de C.V. in San Luis Potosi, Mexico, will increase weatherstrip production by about 50% by 2020.
When done, Toyoda Gosei projects employment reported at 910 as of March 31 to increase by 540 people. It also expects sales to grow to US$124 million annually by 2020 up from current US$60 million.
The plant currently produces opening trim weatherstrips, door weatherstrips and glass runs among other weatherstrips.
In addition to adding capacity, the firm has acquired land adjacent to the building to add about 20 percent or 82,000 square feet to its current footprint, bringing the building to 523,100 square feet by 2020. Toyoda Gosei said this addition will be used to add trial manufacture equipment to the facility, improving the pre-production processes. It will also provide additional team member training.