May 20, 2017 5:29 am JST

Toyoda Gosei, Daicel partnering in air bag development

Companies to buy nearly $9m stakes in each other

NAGOYA, Japan -- Automotive components suppliers Toyoda Gosei and Daicel will develop safety-related products together and form a capital tie-up under an agreement announced Friday.

Each company will spend about 1 billion yen ($8.97 million) to acquire less than 1% of the other. Toyoda Gosei already procures Daicel inflators for use in its air bags for automakers. With the new agreement, they will also conduct development together.

The deal also covers joint development of plastics for fuel caps and other parts. With the two Japanese companies having expanded production centers in similar fashion at home and abroad, the enhanced cooperation may also extend to manufacturing.

(Nikkei)

Toyoda Gosei Co., Ltd.

Japan

Market(Ticker): TKS(7282)
Sector:
Industry:
Producer Manufacturing
Auto Parts: OEM
Market cap(USD): 3,139.07M
Shares: 130.01M

Daicel Corp.

Japan

Market(Ticker): TKS(4202)
Sector:
Industry:
Process Industries
Chemicals: Specialty
Market cap(USD): 4,061.09M
Shares: 349.94M

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