Toyoda Gosei, Daicel partnering in air bag development
Companies to buy nearly $9m stakes in each other
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.