Toyota supplier Reyes Automotive takes on partner | Only Cars

Posted by onlycars on Thursday, September 8, 2011 ? Leave a Comment?

Fernando Reyes, an onsite supplier at Toyota?s San Antonio plant, is taking on a Michigan-based partner to form a joint-venture company that will make interior parts for Tundra and Tacoma trucks made at the factory.

The job of making the interiors is what Reyes? firm, Reyes Automotive Group LLC, has been doing since the Toyota plant opened. But by joining forces with International Automotive Components Group of Southfield, Mich., the new entity, Reyes Automotive Group II, will be able to enhance the products and services it provides at the San Antonio plant, Reyes Automotive Vice President Jason Reyes said in an emailed comment.

International Automotive?s investment in the joint venture wasn?t disclosed.

?The joint venture brings two experienced vehicle interiors suppliers together in a partnership that will provide enhanced value to our customers going forward,? said Fernando Reyes, chairman and CEO of Reyes Automotive.

No new jobs will be created as a result of the joint venture, which will operate out of the existing 90,000-square-foot facility, Reyes said. Reyes Automotive has nearly 200 employees.

The joint venture will supply injection and molded interior trim components for the full-size Tundra and the midsize Tacoma trucks, the partners said. In addition, the venture will provide sequence and assembly services at the plant.

For International Auto, the deal establishes the company?s presence ?as a leading interiors supplier for Toyota?s Texas plant,? co-CEO James Kamsickas said in a prepared statement.

The new venture will seek certification as a Minority Business Enterprise, with Reyes Automotive holding 51 percent ownership and International Automotive 49 percent, the companies said.

The joint venture is International Auto?s first in Texas. The company, which posted sales of $3.7 billion in 2010, has 75 manufacturing plants in 16 countries.

Article source: http://www.mysanantonio.com/business/article/Toyota-supplier-Reyes-Automotive-takes-on-partner-2159537.php

Source: http://www.only-cars.com/toyota-supplier-reyes-automotive-takes-on-partner/

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