Motorator Blog - Import Car Performance Parts Manufacturer, Trust (GReddy), Files Bankruptcy

Motorator Blog

Import Car Performance Parts Manufacturer, Trust (GReddy), Files Bankruptcy

September 10, 2008

Japan’s largest credit research company, Teikoku Databank, announced that Japanese automotive performance parts manufacturer, Trust Co. LTD., filed for bankruptcy today.

Founded in Japan in 1977, the Trust company LTD has become a dominant source for automotive performance products around the world. With popular brand names like GReddy, the division that makes Exhaust Systems, Turbo Kits, Cooling systems, Electronics and Accessory lines, GREX, the division that makes both engine hard parts and footwear (suspension, brakes, etc.), and GRacer, the division that produces aerodynamic components the Trust Company offers one of the widest varieties of performance automotive components in the world.

GReddy Performance Products Headquarters

Since 1994 the development and distribution of Trust Company products in the United States has been accomplished by GReddy Performance Products, in Irvine California.

In 1998 Trust reported annual sales of $80 million but since then sales had been declining. By February 2008, Trust’s annual sales had declined drastically to $53 million with loan payments totaling $43 million. Trust is reported to be approximately $60 million in debt.

It’s not immediately clear if Trust Company, Ltd. in Japan will be out of business or be able to restructure. The company employs nearly 200 people.

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