Nisshinbo Holdings Inc. said Tuesday it will transfer its Brazilian brake parts subsidiary from Indaiatuba to the city of Salto, where a new plant will be completed by the end of 2016.
A lack of space for expansion at TMD Friction do Brazil S.A.'s existing base in Indaiatuba prompted the transfer, it said. Both cities are in Sao Paulo state.
The company "will work toward further enhancing its quality and productivity and, in the process, strengthening its earnings capability," it added.
Nisshinbo, which leads the Brazilian market in passenger vehicle friction parts, said it aims to double its South American sales by 2020 through the relocation and expansion.