Toyoda Gosei expanding automotive business in Europe
Toyoda Gosei Meteor GmbH (TG Meteor), a German subsidiary of Toyoda Gosei Co., Ltd. established in January 2014, has acquired all assets of Meteor Gummiwerke K.H. Bädje GmbH & Co. KG (Meteor), a German automotive rubber products manufacturer. The valuable assets of Meteor, including proprietary technologies, expertise, and underlying human and other resources, will help Toyoda Gosei to establish a firmer foothold in Europe and expand business with Daimler, BMW, Audi, and other European automakers there. TG Meteor is scheduled to be consolidated into the Toyoda Gosei Group from the fiscal year ending March 31, 2015.
Corporate Profile of TG Meteor
Company name
Toyoda Gosei Meteor GmbH (TG Meteor)
Establishment
January 17, 2014
Acquisition concluded
April 30, 2014
Locations
Head office and plant: Bockenem, Lower Saxony, Germany
Worbis plant: Leinefelde-Worbis, Thuringia, Germany
Representatives
Chairman: Atsushi Sumida, Managing Officer of Toyoda Gosei Co., Ltd.
President: Burkhard Brühl, former CEO of Meteor Gummiwerke K.H.Bädje GmbH & Co. KG
Owner
100% owned by Toyoda Gosei Co., Ltd.
Products
Automotive sealing products such as weatherstrips
Subsidiaries
Meteor Sealing Systems, LLC
(located in Ohio, U.S.A., and 100% owned by TG Meteor)
LMI custom mixing, LLC
(located in Ohio, U.S.A., and 45% owned by TG Meteor)
Employees
Approximately 1,300 (consolidated)
Sales
Approximately €140 million (¥20 billion) for FY2014 [projected]
