KOYOSU, Japan—Against the backdrop of "dramatic changes" within the automotive industry, Toyoda Gosei is restructuring a bit, dissolving its operations in the United Kingdom. It's a move that is intended to bolster company earnings in Europe while better positioning the automotive supplier for more sustainable global growth.
The Toyoda Gosei U.K. Ltd. subsidiary, in July, ended manufacturing operations at its headquarters plant in Rotherham, England, as well as a production facility in Swansea, Wales. The company made weather stripping as well as interior and exterior products.
Some of the operations were transferred to Toyoda Gosei Czech, s.r.o., which will be the focus for Toyoda Gosei as it restructures in Europe. The company did not specify how much of the operations were moved or how many—if any—employees were or will be retained.
Liquidation of TGUK, which was established in 1999, is expected to be complete by the end of next year.