$200 Million Investment for V6 Engine Machining in Huntsville, Ala., and Related Casting Parts in Troy, Mo., and Jackson, Tenn.
Toyota Has Committed More Than $2 Billion to Expand North American Production Within the Past Two Years
ERLANGER, Ky. (June 20, 2013) – Toyota Motor Engineering & Manufacturing North America, Inc. (TEMA), announced today that its Alabama engine plant and Bodine Aluminum casting plants will invest a combined $200 million to boost machining capacity and engine parts production for V6 engines.
Today’s announcement represents Toyota’s ninth manufacturing investment in North America over the past two years that now totals more than $2 billion. The result of this new investment is more than 4,000 new jobs solidifying Toyota’s commitment to designing, developing and assembling vehicles in the region.
Toyota’s Alabama engine plant’s $150 million investment in this project represents its fifth significant new investment since it began operations a decade ago. Toyota Alabama’s total investment will be $850 million once the machining project is complete by July 2015.
As previously announced, Toyota Alabama will hire approximately 125 upon completion of its current $80 million V6 engine assembly expansion by early 2014; its total employment will be 1,150. Annual engine capacity will be nearly 750,000 units.
Toyota Alabama currently assembles 4-cylinder, V6 and V8 engines for eight of 12 Toyota vehicles assembled in North America. It is the only Toyota plant globally to produce these three types of engines under one roof.
Bodine Aluminum, wholly-owned by Toyota Motor Corporation and a manufacturer of casting parts, will invest $50 million and create a total of 40 new jobs at its plant in Troy, Mo., and 10 new jobs at its plant in Jackson, Tenn., to provide cylinder heads and blocks to Toyota Alabama. Bodine’s total investment will top $650 million and will employ nearly 1,100 at its three locations once the machining project begins.
In addition to Toyota Alabama, Bodine also provides cylinder heads and blocks to Toyota’s engine manufacturing facilities in Kentucky and West Virginia.
“Today’s investment of $200 million into three separate Toyota facilities demonstrates Toyota’s commitment to North America and our localization efforts,” said Osamu “Simon” Nagata, president and CEO of TEMA. ”Our committment to our local communities where we produce engines, engine parts and vehicles has never been stronger thanks to our team members and their continued focus on safety, quality and continuous improvement.”
“Toyota Alabama continues to play a key role in our efforts to build engines in the region for our loyal customers,” said Jim Bolte, president of Toyota Alabama. “This vote of confidence gives our team members and community partners added motivation as we move towards our vision of becoming the most admired company in the state.”
“Bodine’s 100 years as a successful American manufacturer is a direct result of our exceptional workforce in Missouri and Tennessee,” said Bob Lloyd, president of Bodine. “We look forward to serving our customer in Alabama, and ultimately, our loyal customers who drive Toyotas every day.”
Toyota (NYSE:TM) established operations in North America in 1957 and currently operates 14 manufacturing plants. There are more than 1,800 Toyota, Lexus and Scion dealerships in North America which sold over 2.3 million vehicles in 2012.Toyota directly employs nearly 39,000 in North America and its investment here is currently valued at more than $24.5 billion, including sales and manufacturing operations, research and development, financial services and design.Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals nearly $30 billion.Toyota currently produces 12 vehicles in North America, including the Avalon, Camry, Corolla, Highlander, Matrix, RAV4, Sienna, Sequoia, Tacoma, Tundra, Venza and the Lexus RX 350.
For more information about Toyota, visit www.toyota.com or www.toyotanewsroom.com.
Victor Vanov, Toyota Motor Engineering & Manufacturing North America, 859.746.4358
Kim Ogle, Toyota Motor Manufacturing, Alabama, 256.714.3633
Kathryn Ragsdale, Bodine Aluminum, 636.462.1071