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KIYOSU, Japan Toyoda Gosei has started a formal period of consultation with its employees in the United Kingdom regarding a proposed plan to close its operations in the country.
The move is in response to continued changes in the global automotive sector, and a significant reduction in key U.K. customer demand, the automotive components manufacturer said in an April 28 statement.
Toyoda Gosei, which supplies parts to Nissan, Renault and Honda, said it does not foresee growth of its business in the U.K. due to those changes.
Headquartered in Rotherham, England, Toyoda Gosei U.K. Ltd (TGUK) has two production facilities in Rotherham and Swansea, Wales, and employs 458 people.