Home / Knowledge / News / Textiles / Automotive fabric biz of Toyota Boshoku to be split out
Automotive fabric biz of Toyota Boshoku to be split out
27
Apr '09
Toyota Boshoku Corporation, Kawashima Selkon Textiles Co Ltd and Toyota Tsusho Corporation will enter into discussions to consider merger of their businesses with the objective of becoming the world's leading company of fabrics for automobiles, trains, aircrafts etc. (hereinafter "automotive fabrics business").

1.Objective of the Business Merger
The automotive fabrics industry is anticipated to become increasingly competitive due to the effects of further globalization and the push towards improved functionality and design.

In response to these market conditions, the companies have decided to begin consideration of a merger of their businesses so as to strengthen their global expansion efforts and increase their competitiveness, utilizing respective advantages, with the aim of

1) Strengthening the sales, development and production bases by cooperating to achieve synergic effects across areas of technological expertise, customer base, business field and geographical region, and achieving improved efficiency through integrated process of operation, and
2) establishing fabric development and production system capable of creating both cutting edge designs and highly functional fabrics that not only reflect the particular requirements of the whole car interior spaces but which also take into account environmental and health concerns.

2.Method of the Business Merger
The automotive fabric businesses of Toyota Boshoku, Kawashima Selkon Textiles and Toyota Tsusho are to be split out, and all the three businesses are to be integrated.

The specific details of the arrangement will be decided amongst the three companies in the upcoming future.

3.Schedule for the Business Merger
Execution of Memorandum of Understanding: Mid June 2009 (scheduled)

Merger of the relevant businesses: April 2010 (scheduled)

The specific schedule is to be decided amongst the three companies in the upcoming future.

Toyota Tsusho has been growing steadily together with the automotive business as the main axis. Tomen also has been developed with a wide range of business and customers in non-automotive field. Two companies merged on April 1,2006, and started as newborn Toyota Tsusho Corporation.

Toyota Tsusho Corporation


Must ReadView All

Tajik textile-apparel exports rise 30% in Jan-Aug 2018

Textiles | On 16th Oct 2018

Tajik textile-apparel exports rise 30% in Jan-Aug 2018

Tajikistan’s production of textile and apparel rose by 30 per cent in ...

Courtesy: Good On You

Apparel/Garments | On 16th Oct 2018

Good On You aims to give consumers access to brand info

Australia based Good On You, an app that provides ratings of over...

Courtesy: Rieter

Textiles | On 16th Oct 2018

Rieter launches new ring and compact spinning machines

Rieter has launched G 37 and G 38, the new ring spinning machines,...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search