Toyo opens China railway car parts plant JV
Toyo has opened its new joint venture for the manufacture and distribution of parts for railway vehicles in China. Wuxi Toyo Meifeng Rubber Products Manufacturing Co, Ltd (TMW) was established through a business partnership with Wuxi Meifeng Rubber Products Manufacturing Co, Ltd (or Wuxi Rubber), which has strengths in technology and Chinese railway parts sales. Meanwhile Toyo has developed and manufactured air springs and anti-vibration rubber components for the comfort and safety of railway vehicles for over 50 years, supplying these products primarily in Japan.
Some 70 individuals were in attendance to celebrate the opening of the plant, including local government officials, major customers from China and abroad, and TMW president Haruhiro Shinsho (director, corporate officer and group executive officer, DT Business of Toyo Tire & Rubber Co., Ltd.), as well as TMW employees and affiliates from Wuxi Rubber.
At the opening, TMW president Shinsho remarked: “This is a new business model built through a fusion of the technical capabilities, brand strengths and sales forces of both Toyo Tires and Wuxi Rubber, which will contribute to the further growth and expansion of business of both companies. We want to demonstrate the indispensable value of our presence to the railway infrastructure that will support the abundant lifestyle and society of China.”
Sadao Ichihara, corporate officer of Toyo, conveyed the following message from Toyo Tires president Nobuki: “By having both parties work together to refine our technology and deliver products that promise superior performance and quality we will support China’s railways, and I am hopeful that we will demonstrate the value of our presence in contributing to Chinese society.”
Based on the company’s 2014 Mid-term Business Plan, Toyo Tires will make an effort to bolster the overseas business foundation of its railway vehicle component business. It plans to boost the ratio of overseas production to 35 per cent by 2016, and will accelerate business growth with the full-fledged operation of TMW as a foothold to global expansion.