Toyota Auto parts, a car parts supplier to automakers including Ford, Chrysler, Nissan, Toyota, BMW and Fiat Chrysler, has signed a deal to acquire Spaldings Automotive, a division of the Spalders family of automotive manufacturers.
Spaldings, based in St. Louis, Missouri, is known for producing quality vehicles and parts for automakers including Toyota, Mazda, Honda, Mazda3, Subaru, Toyota and Toyota Motor Corp. Spalds manufactures high-end, bespoke, quality vehicles for Toyota, Honda and Mazda.
It also produces the automotive parts for the Chevrolet Camaro and the Honda Civic.
Spauldings has more than 1,300 employees and operations in several states.
It is headquartered in St Louis.
Spauldings CEO Peter Schmitz said the acquisition will give the company the flexibility to focus on its core business of automotive and automotive parts.
“I am excited about our acquisition of Spaldations,” said Peter Schmetz, CEO of Toyota Automotive Parts.
“We are very confident in our ability to meet the needs of our customers.
I can’t wait to start delivering on that promise.”
Toyota has a strong presence in the auto industry, particularly in the United States.
In 2011, it purchased Toyota Motor North America for $2.7 billion.
It owns or controls more than 200,000 employees and has over 8,000 plants worldwide.