|This article needs additional citations for verification. (April 2009)|
|Industry||Automobile tuning & parts manufacturer for street and motorsports|
|Masaru Ikeda, President|
|Products||Automobile tuning and racing products|
Trust Company Ltd. (株式会社トラスト Kabushikigaisha Torasuto?) is a Japanese automotive aftermarket company specialising in performance tuning parts for cars. The company is widely known for its subbrand of tuning parts GReddy and the turbochargers under this brand.
GReddy/The Trust company LTD
The Trust Company
Founded in Japan in 1977, The Trust company LTD has become a major player in automotive performance products. With popular brand names like GReddy, GREX, and GRacer, the Trust Company offers one of the widest varieties of performance automotive components. They are most well known for their complete cat-back exhaust systems with unique straight-through muffler design and bolt-on turbocharger kits.
Since 1994, the development and distribution of Trust Company products in the United States has been accomplished by GReddy Performance Products, based in Irvine, California. Trust was unable to use its own name there as it was already copyrighted, therefore they became officially known as GReddy.
In August 2008 the TRUST Company in Japan consolidated their supply of GReddy products throughout Australia and New Zealand which has culminated in the establishment of GReddy Oceania based in Sydney Australia.
Greddy is pronounced GRED-dy, . The name originated from two words "GREAT" and "Eddy," as in a strong swirling wind current, referring to the strong swirling intake air of a turbocharger.
The GR in uppercase and the eddy in lowercase to show where the two words were combined. It also works well for the GReddy trademarked logo.
Bankruptcy and Reorganization
According to various reports, by 2008 TRUST was approximately $60 million in debt and, after reporting a serious decline in sales since February 2008 and amassing $43 million in loan payments, they filed for Minji-saisei-hou in Tokyo District Court on September 10, 2008, the Japanese equivalent of a Chapter 11 reorganization plan in the U.S. The U.S. division was unaffected by the bankruptcy.
It was not until March 2009 that TRUST Co. LTD successfully completed reorganization through Minji-saisei-hou.
- http://www.autoblog.com/2008/09/10/japanese-tuning-firm-trust-greddy-declares-bankruptcy/ AutoBlog
- http://www.autoblog.com/2009/03/12/trust-successfully-reorganized-in-japan-greddy-in-the-u-s-chur/ AutoBlog