Toyoda Boshoku Corp. and Toyota Tsusho Corp. have set up a production and sales company in Kentucky for automotive sound-insulating materials.
The new company will spend some 300 million yen to build a plant where seats and other materials will be recycled into automotive sound-insulating products.
The joint venture will sell products to local automakers including Toyota Motor Corp., and is expected to generate 220 million yen in revenue in fiscal 2003. It marks Toyoda Boshoku's first move into the U.S. in the field of automobile interior parts.
Toyoda Boshoku makes sound-insulating products in Japan by using recycled seat materials and expects U.S. demand for such products to increase as environmental awareness grows.
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