Molten to establish subsidiary to sell automotive parts in Mexico in late May
Molten Corporation (Head Office: Nishi-ku, Hiroshima; President and CEO: Kiyofumi Tamiaki) will establish Molten Automotive de Mexico, S.A. de C.V., a wholly owned subsidiary that will sell rubber and resin automotive parts in Mexico.
The decision reflects Molten’s desire to bolster its ability to supply products in the country and to expand its automotive parts business in North America as automakers and part manufacturers’ efforts to boost production in Mexico accelerate. The company will outsource production to local manufacturers.
Molten is currently preparing to establish the new company in late May and to start sales in January 2014, with the goal of achieving sales of USD 15 million in 2015. Mexico will be the sixth country in which Molten Automotive Parts operates overseas, after the United States, Thailand, China, Germany, and Vietnam.