Topy Fasteners will build a new company and factory in Mexico to manufacture industrial fasteners for both the North American and South American markets, Just-Auto.com reports.

The new company will support the "steady supply of high precision, high quality industrial fastener products to Japanese and Western automobile manufacturers as well as car parts manufacturers, and will supplement the increasing automobile related demand in the American market," writes Dave Leggett of Just-Auto.com.

Topy Fasteners supplies precision flat springs and other products for two-wheel vehicles, four-wheel vehicles, precision machinery and industrial equipment.

Founded in 1974, Topy Fasteners of Japan employs 411 workers and reported 2014 revenue of YEN 8.63 billion (US$72.2 million). Topy Fasteners operates manufacturing facilities in Japan, the U.S. (Topy Precision in Elk Grove Village, IL), Thailand and Vietnam. Web: topy-fas.co.jp/en