Basic Agreement on Establishment of A New Merger Company for Transportation Interior Materials
2009-06-18
Toyota Boshoku Corporation (hereinafter "Toyota Boshoku"), Kawashima Selkon Textiles Co., Ltd. (hereinafter "Kawashima Selkon Textiles") and Toyota Tsusho Corporation (hereinafter "Toyota Tsusho") have been discussing merger of the transportation interior material businesses as released on April 24, 2009, and we are pleased to advise that we have agreed in principle to establish a new company as shown hereunder:
In the industry of transportation interior materials, which is anticipated to become increasingly competitive and globalized, we aim to be in the world's leading position, enhancing competitiveness and global operation capability through complementation and synergy effect, utilizing respective advantages.
1. Profile of the New Company
(1) company name: TB Kawashima Co., Ltd.
(2) head office address: 1-1, Toyoda-cho, Kariya-shi, Aichi-ken
(3) shareholding: Toyota Boshoku 35%
Kawashima Selkon Textiles 35%
Toyota Tsusho Group 30%
(4) representative: Tsuyoshi Kuriyamoto
(5) products: fabrics for seat/door, headliners & other interior materials
2. Schedule of Establishment of the New Company
April 2010
The execution of this basic agreement is subject to the conclusion of a merger agreement expected by the end of 2009. The above is the plan based on our current agreement and may change according to the discussion among the three companies in the upcoming future.
Press Release(28KB)
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