1 March 2000

 

Toyoda Gosei

Buys Eagle-Picher Fluid Systems Division

Toyoda Gosei Co., Ltd. (Tokio Horigome, President) has purchased the British and American fluid systems division of American company, Eagle-Picher Industries, Inc. (EP). The two companies thus become wholly-owned subsidiaries of Toyoda Gosei, and ensure a fuel hose supply system for the European and North American markets.

The Closing of transaction has been completed today.

  1. Purpose of purchase

1-1. With the establishment of these bases in Europe and North America for its fuel hoses, Toyoda Gosei aims to build a supply system spanning four world regions with the goal of making its fuel hoses No. 1 together with its world-leading brake hoses.

1-2. Toyoda Gosei aims to take advantage of this new business opportunity to expand sales by gaining new customers, and introducing new products to existing customers.

　

2. Details of purchase

2-1. Companies purchased

(1) Eagle-Picher Fluid Systems Limited

(U.K., located near Birmingham, 1999 sales of 3.9 billion yen, 446 employees)

(2) Eagle-Picher Fluid Systems, Inc.

(U.S.A., located outside Detroit, 1999 sales 570 million yen, 69 employees)

The acquired companies will take over the existing operations and commercial rights in the transfer to a new system.

*Refer to attached sheet for details of each company

2-2. Purchase price US$20 million (about 2.1 billion yen)

*1$=105 yen

3. Profiles of new companies

(1) Company name

Toyoda Gosei Fluid Systems UK Ltd. (TGFSUK)

TG Fluid Systems USA Corporation (TGFSUS)

(2) Purchase date

February 29, 2000

(3) Stock holdings

TG 100%

(4) Board members

TGFSUK: 9 directers

TGFSUS: 3 directers

･ Yuzo Saito (TG Managing Director)

･ Shigeo Asano [Chairman]

(TG Managing Director)

･ Takamasa Suzuki (TG Director)

･ Hiroyuki Nishioka [Vice-President]

(currently manager of Overseas Technical

Department, Functional Parts Division)

･ Anthony Lumb [Managing Director]

4 others

_ Yuzo Saito (TG Managing Director)

･ Shigeo Asano [Chairman]

(TG Managing Director)

･ Takamasa Suzuki (TG Director)

　

※［officer］

　　Scott Maly [President]

（ ）denotes current position at TG ［ ］denotes new position at TGFSUK or TGFSUS

　

Reference

  1. Outline for Eagle-Picher Industries

    2.  

    [1] Company name: Eagle-Picher Industries, Inc.

    [2] Established: 1916

    [3] Location of headquarters: Cincinnati, Ohio, USA

    [4] Capital: US$180 million (approx. \19 billion)

    [5] Sales: US$852 million (approx. \90 billion) [Fiscal 1998]

    [6] Number of employees: 6,700 [Fiscal 1998]

    [7] Business fields: Products for the automotive parts, military, aerospace,

    constructione qipment, and other sectors.

    Over 50 plants producing in 12 countries in North America,

    Europe, and Asia.

  2. Outline of Eagle-Picher’s Fluid Business

    3.  

2-1. Eagle-Picher Fluid Systems Limited

[1] Capital: £800,000 (approx. \120 million)

[2] Location: Suburbs of Birmingham, England, UK

[3] Sales: £24.8 million (approx. \3.9 billion) [Fiscal 99 forecast]

[4] Number of employees: 446

[5] Main customers: Rover, Ford, VW, Daimler-Chrysler, Kautex, other

2-2. Eagle-Picher Fluid Systems, Inc.

[1] Capital: US$1,000 (approx. \100,000)

[2] Location: Suburbs of Detroit, Michigan, USA

[3] Sales: US$5.5 million (approx. \570 million) [Fiscal 99 forecast]

[4] Number of employees: 69

[5] Main customers: Solvay, Walbro, Kautex (all tank manufacturers), Visteon, others