Tokai Rubber Industries, Ltd. has announced that its board of directors resolved to acquire the shares of a Brazilian manufacturer of automotive rubber parts, Produflex Minas Industria de Borrachas Ltda., and Produflex MG, an automotive anti-vibration solutions provider, becoming its indirect subsidiary.
With the South American automotive market’s rapid expansion, TRI had been considering the establishment of local production in South America. In this acquisition, the TRI group will establish the first market research company in Brazil.