Toyoda Gosei will invest CAD11m (USD11.1m) in a new manufacturing plant in Stanford, Ontario (Canada), the company said in a press release. The plant, spread on an area of 6,000 square metre, will manufacture automotive interior and exterior components such as instrumental panel parts, pillar garnishes and column hole covers. The plant is scheduled to become operational in July 2013. It is expected to generate sales of CAD15m (USD15.1m) and employ 70 people by 2014.
Significance: Toyoda Gosei is investing in a new manufacturing plant in Canada in response to strong growth in vehicle production in North America. The company is a major supplier to Toyota, which is also its biggest shareholder. The Stanford plant will be Toyoda Gosei’s fifth plant in Canada and will be managed by the company’s local subsidiary, TG Minto Corporation. The Japanese supplier, which is present in Canada for more than 25 years now, currently operates four manufacturing plants located in Waterville, Ontario, Coachcock and Palmerston.
