Kiyosu, Japan, July 4, 2019: Toyoda Gosei Co., Ltd.’s production subsidiary in Vietnam, Toyoda Gosei Haiphong Co., Ltd. (TGHP), is beginning operations at its new Thai Binh Plant in July 2019. A ceremony to celebrate its first shipment was held on July 3.

At the ceremony, Toyoda Gosei President Naoki Miyazaki expressed his aspirations for the plant: “I am delighted with the start of operations at the Thai Binh Plant, our second production base in Vietnam. This plant will produce airbag components and steering wheels to meet rising demands for safety around the world. I hope to grow together with the community here in Thai Binh while receiving local support.”

Safety system products, mainly airbags, are a key business for Toyoda Gosei and the company is strengthening its global production capacity. With the start of operations at the new plant, the Toyoda Gosei plans to increase its production capacity in Vietnam within four years to 25 million airbag components annually, about 1.5 times that in FY2018, and four million steering wheels, about 1.7 times that in FY2018.

Ceremony

Summary of TGHP Thai Binh Plant [Start of operations in July 2019] 1. Location Tien Hai Industrial Park, Thai Binh Province, Vietnam 2. Products Safety system products (airbag components, steering wheels) 3. Employees 597 (as of May 31, 2019) 4. Area Land approx. 113,000 m2; buildings approx. 34,000 m2
Summary of TGHP 1. Name Toyoda Gosei Haiphong Co., Ltd. 2. Location Haiphong City, Vietnam 3. Founded September 2004 4. Capital USD 50 million 5. Shareholders Toyoda Gosei Co., Ltd. 95%; Toyota Tsusho Corp. 5% 6. Employees 3,834 (as of May 2019) (No. of employees at head office plant) 7. Business Safety system products (airbag components, steering wheels)