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Toyoda Gosei to close its UK operations
Toyoda Gosei UK Ltd. (TGUK) has informed its employees of a proposal to close the business in the United Kingdom (UK). TGUK has enter a formal period of consultation with its employees regarding the proposed changes.
The proposal is in response to continued changes in the global automotive sector, and a significant reduction in key UK customer demand. Due to these changes, Toyoda Gosei does not foresee growth of its business there and has decided to make this proposal. Restructuring of its global business is one part of Toyoda Gosei’s efforts to achieve sustainable growth into the future. The company has taken previous steps to reorganise its business in Europe, selling its shares in a production subsidiary for automotive parts in Germany in December 2019 and moving some of production to its main European manufacturing site, Toyoda Gosei Czech, s.r.o. (TGCZ). It will continue to improve productivity and strengthen its European business with TGCZ in a central role, a press release states.
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