Chai Watana Tannery Group Public Company Limited has signed a Memorandum of understanding (MOU) with Toyo Bussan Co. Ltd. (TBC) to participate in the production and distribution of auto parts and furniture made of leather and fabric. In which the company has studied for the shareholders' structure. The Board of Directors of the company on the 27 July 2012 resolved to approve the joint venture with TBC by set up a new company.