TOKYO—Tokai Rubber Industries Ltd. has formed two joint ventures with Germany's Anvis Group to make automotive anti-vibration rubber components in Queretaro, Mexico.
Anvis said it will contribute its existing plant in that city—which primarily serves Volkwagen and Nissan and generated sales of $21 million in 2011—to the joint venture. Anvis will be the majority owner of the business, holding a 51-percent stake in it.
The second joint venture, named Tokai Rubber de Mexico S.A.P.I. de C.V., will be a factory majority owned, at 51 percent, by Tokai, Anvis said. The facility is expected to start up in October, and will create 200 jobs by 2015.
Anvis said both companies will invest several million euros into the operation.
The JV will service the local market, as well as other North and South American countries, with the aim of increasing Tokai's market share in those areas. Tokai said.