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Toyoda Gosei Starts Operation of New Plant in Mexico

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To meet growing demand for airbags

Toyoda Gosei Co., Ltd. (TOKYO:7282) has established a new plant in Mexico, the TAPEX Mexicana, S.A. de C.V. (TAPEX) Monterrey Plant, and started its production of the bags that are a main component of automotive airbags in March 2021. This will help to meet the growing demand for airbags.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210516005005/en/

Production network in Mexico (Graphic: Business Wire)

In Toyoda Gosei’s medium-term 2025 Business Plan, airbags and other safety system products are a key area that will drive future business growth, and the company is focusing effort on increasing sales to Japanese automakers and other customers. The bags are produced mainly in Mexico and Vietnam to raise cost competitiveness. With the operation of the new plant in Mexico, Toyoda Gosei will increase annual bag production capacity by about 8 million units.

The company plans to increase airbag production in the entire Toyoda Gosei Group by about 1.6-fold, to approximately 100 million units, over the five years from FY2018 to FY2023.

Outline of TAPEX

Company name

TAPEX Mexicana, S.A. de C.V.

Founded

February 2003 (capital participation)

Capital

USD 11.36 million

Shareholder

Toyoda Gosei North America Corporation 100%
(Toyoda Gosei’s regional headquarters for the Americas)

Headquarters Plant

Monterrey Plant

[begun operations]

Location

Matamoros, Mexico

Monterrey, Mexico

Products

Bags, steering wheels

Bags

Area

Land

Approx. 53,000 m2

Approx. 25,000 m2

Building

Approx. 32,000 m2

Approx. 14,000 m2

No. of employees

4,155
(as of March 31, 2021)

101
(as of March 31, 2021)

View source version on businesswire.com: https://www.businesswire.com/news/home/20210516005005/en/

Contacts

Toyoda Gosei Co., Ltd.
Contact: Takatomo Abe
Chihiro Suzuki
inquiry@mail.toyoda-gosei.co.jp

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