Tokai Rika to buy rest of Canadian seatbelt maker

Newswire

NEW YORK, June 29 (Reuters) - Japanese auto parts maker Tokai Rika Co. Ltd. on Sunday said it bought from TRW Canada Ltd. the 60 percent of a private seatbelt manufacturer it doesn't already own to help it increase its share of the global seatbelt business. The companies did not disclose the financial terms of the deal and a spokesman for the company, Quality Safety Systems, could not immediately be reached for comment. Auto parts companies have been a hot sector for acquisitions as ...

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