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Toyoda Gosei acquisition expected to close in March

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BOCKENEM, Germany—Toyoda Gosei Co. Ltd. will acquire the assets of Meteor Gummiwerke K.H. Badje GmbH & Co. K.G. in a deal that is expected to close in March.

The firms did not make financial details of the transaction available.

Toyoda also is establishing a new company in Germany, called Toyoda Gosei Meteor GmbH, a fully owned subsidiary comprising the manufacturing facilities and assets of Meteor. Toyoda is making approximately a $20.3 million capital investment. Sales are estimated at approximately $189 million for fiscal year 2014.

Meteor is headquartered in Bockenem and employs approximately 1,300. The company operates manufacturing facilities in Bockenem and Worbis, Germany; and in Dover, Ohio. It supplies sealing parts, weatherstrips and other rubber components to Daimler A.G., BMW A.G., Audi A.G. and other European auto makers. Toyoda said Meteor has a strong reputation in sealing parts for luxury vehicles.

Toyoda manufactures rubber and plastics polymers and optical semiconductors. The firm has 91 group companies in 18 countries.