Notice Regarding Reorganization of Compressor Production Structure in China
Toyota Industries Corporation ("Toyota Industries") has decided to reorganize its production structure in China for medium- to long-term growth of its car air-conditioning compressor business.
Currently, Toyota Industries has two compressor production subsidiaries in China. Of these, the production functions of TD Automotive Compressor Kunshan Co., Ltd. (Kunshan, Jiangsu; "TACK") will be consolidated to Yantai Shougang TD Automotive Compressor Co., Ltd. (Yantai, Shandong; "YST") to improve production efficiency, and at the same time, further enhance the competitiveness of its compressor business in China by strengthening technological development and quality assurance systems.
Overview of TACK
| Location | No. 355, Xinghui Road, Kunshan Economic and Technological Development Zone, Kunshan, Jiangsu Province, People’s Republic of China |
|---|---|
| Established |
June 2005 |
| Capital | 66.29 million U.S. dollars (77.6% ownership) |
| Business details | Manufacture and sales of car air-conditioning compressors |
| End of Production | July 2027 (planned) * Proceed with procedures to dissolve the company after end of production |
Overview of YST