T&K Autoparts Sdn Bhd, in which UMW Toyota Motor Sdn Bhd has a 10% stake, has changed its name to JTEKT Automotive (Malaysia) Sdn Bhd.

The name change followed a merger between Koyo Seiko Co Ltd and Toyota Machine Works in Japan last January. JTEKT Corporation Japan now holds the majority 90% stake in JTEKT Malaysia.

In a statement, JTEKT Malaysia said the name change was officially announced at a dinner function on July 11. The JV company makes automobile steering gear.

Its chairman, David Chen, said: “I believe that changing the company name to JTEKT Malaysia will further deepen the company and shareholders’ collaboration and their operations.

“At the same time, JTEKT Malaysia will always endeavour to furnish innovative and outstanding quality products at competitive prices to the both Malaysian and overseas markets.”

Also present at the function Malaysian Industrial Development Authority director-general Datuk R Karunakaran, Selangor State Investment Centregeneral manager Datuk Mhd Jabar Ahmad Kembali, JTEKT Corporation, Japan executive director Takaaki Suzuki and JTEKT Malaysia managing director Junji Uematsu.

JTEKT Malaysia has a production capacity of 470,000 units of power steering gear and 150,000 units of manual steering gear a year. Its sales value rose significantly from RM71 million in 2001 to almost RM200 million in 2005.

It currently supplies to Toyota, Perodua, Daihatsu (Indonesia), Ford, Mazda, and Mitsubishi (Australia).

This entry was posted on Thursday, July 27th, 2006 at 2:55 pm and is filed under Car Accessories [t]. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.