Established in May 2004, Qingdao Toyo Heat Exchanger Co., Ltd. is jointly ventured by Mitsubishi RTM Corporation, Donghua Auto Industry Co., Ltd., and Japan T. RAD Corporation who turns to the dominant shareholders since September 2017. Total investment of the company is 12 million USD, containing 8 million USD registered capital. The company mainly engages in manufacturing and selling auto heat exchangers and associated products.

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