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Toyota City, Japan, Oct 18, 2012 - (ACN Newswire) - Toyota Motor Corporation (TMC) announces that its engine production subsidiary in Thailand, Siam Toyota Manufacturing Co., Ltd. (STM), will from 2015, expand the production capacity of diesel engines used in Innovative International Multi-purpose Vehicle Project* (IMV) series vehicles to meet increasing demand in emerging markets.
Diesel engine annual production capacity will be expanded by approximately 290,000 units to approximately 610,000 units a year and will see an investment of 40 billion yen and the creation of approximately 450 new jobs.
With Thailand as a global supply base, diesel engines made at STM will continue to supply vehicle plants in Thailand. Exports to emerging markets are also being considered.
TMC, under its philosophy of making vehicles where they are sold, seeks to source major component supply alongside vehicle production, thereby increasing and promoting local production.
Outline of Siam Toyota Manufacturing Co., Ltd.
Location: Amata Nakorn Industrial Estate,
Chonburi Province, Thailand
President: Shigeru Murai
Start of production: 1989
Employees: Approximately 3,200 (as of October 2012)
Products: Engines
Production capacity: 900,000 units/year (gasoline and diesel engines)
Equity participation: Toyota Motor Corporation: 96%;
Siam Cement Public Company Ltd.: 4%
* Aimed at creating an optimal production and supply network on a global scale; the series consists of three pickup trucks, a minivan and an SUV.
Contact:
Toyota Motor Corporation
Corporate Communications Department
Public Affairs Division
Tel: +81-3-3817-9150
Topic: Production report
Source: Toyota Motor Corporation
Sectors: Daily Finance, Automotive
https://www.acnnewswire.com
From the Asia Corporate News Network
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