NAGOYA, Japan—Toyoda Gosei Meteor GmbH, German subsidiary of Toyoda Gosei Co. Ltd., acquired all assets of Meteor Gummiwerke K.H. Badje GmbH & Co. K.G. on April 30.
Toyoda Gosei acquired all proprietary technologies, expertise and underlying human and other resources of Meteor.
Meteor is a German automotive rubber parts manufacturer with a focus on sealing products like weatherstipping. Toyoda Gosei said it employs about 1,300 with projected fiscal year 2014 sales of about $191.8 million.
Meteor consists of two U.S. plants: Meteor Sealing Systems L.L.C. in Dover, Ohio, and LMI Custom Mixing L.L.C. in Cambridge, Ohio, of which it owns 45 percent. It also operates two Germany plants: Worbis and Bockenem, which is also its headquarters.
Atsushi Sumida, managing officer of Toyoda Gosei, will be the chairman of TG Meteor, with Burkhard Bruhl, former CEO of Meteor Gummiwerke, serving as president.
Toyoda Gosei said the acquisition will help it establish a firmer foothold in Europe and expand business with Daimlier, BMW, Audi and other European auto makers.
The firm said TG Meteor is scheduled to be consolidated into the Toyoda Gosei Group from the fiscal year ending March 31, 2015.
Toyoda Gosei manufactures rubber and plastics polymers and optical semiconductors, providing a variety of automotive components and LEDs internationally. It operates 94 plants and offices in 18 countries and regions.