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International Automotive Components and Reyes Holdings to supply components for Toyota

September 07/2011

(PlasticsToday) -- International Automotive Components (IAC) Group and Reyes Holdings LLP have formed a joint venture to supply injection and blowmolded interior trim components and sequence and assembly services for the Toyota Tundra and Tacoma built at Toyota Motor Manufacturing Texas Inc. (TMMTX). Reyes Automotive Group II (RAG II) is based in San Antonio, TX and will apply for Minority Business Enterprise (MBE) certification, with Reyes holding 51% ownership and IAC having a 49% stake.


IAC, with 2010 sales of $3.7 billion, operates 75 manufacturing facilities in 16 countries, while employing approximately 22,000 people around the world. Toyota broke ground on its TMMTX site in October 2003, building a 2 million sq ft assembly plant on a 2000-acre site in San Antonio. Employees there total 1694 with investment to date of $1.5 billion. Fernando Reyes, president and owner of Reyes Industries Inc., runs a number of manufacturing businesses supplying the military as well as the automotive industry.


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