News of April 5, 1999
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Toyota Announces Final Report on New Global Business Plan
|Tokyo, March 30, 1999-- TOYOTA MOTOR CORPORATION
(TMC) published a final report summarizing the progress made
through 1998, the last year of the "New Global Business Plan."
TMC first announced the plan (applicable period: 1995 through
1998) in June 1995, which focused on advancing localization
and increasing imports, and has made numerous efforts toward
achieving these goals.
In the area of advancing localization, TMC increased overseas
production significantly by expanding the capacity of existing
plants and aggressively bringing new plants online. .
The Toyota Yaris,
forseen for production in Europe
|Especially in North America, in addition to
expanding existing plants such as
- Toyota Motor Manufacturing Kentucky, Inc. (TMMK) (from
400,000 units/year to 500,000 units/year) and
- Toyota Motor Manufacturing Canada Inc. (TMMC) (from
100,000 units/year to 200,000 units/year), new plants such
- Toyota Motor Manufacturing, Indiana, Inc. (TMMI) and
- Toyota Motor Manufacturing, West Virginia, Inc. (TMMWV)
were brought online, increasing annual production capacity
from 900,000 units in 1994 to 1.2 million units in 1998
(total production capacity is expected to increase to 1.25
million units/year in 2000).
In Europe, Toyota Motor Manufacturing France S.A.S. (TMMF)
was established in France in November 1998. It is scheduled
to go into operation in 2001, with an annual production target
of 150,000 units of the Yaris, a strategic vehicle for the European
market. In Asia as well, where economic stagnation has been
continuing, TMC established a supply structure in anticipation
of market recovery, starting up second plants in Thailand, Indonesia,
the Philippines, and Taiwan
MUNICH, GERMANY, April 1, 1999- BMW and the British government
announced an aid package Wednesday for the carmaker's struggling
Britain and BMW agreed ``in principle on the size and nature''
of government financing that secure production of a new medium-sized
car at the Rover Longbridge plant in Birmingham, England, according
to a joint statement from BMW and the government.
The statement gave no specific figures and said the agreement
still needed approval from the board of directors of BMW AG
as well as EU authorities.
head of Rover Group
|Tony Blair said he was ``delighted'' that people
could look forward to BMW making Longbridge a ``world class
plant for the next century''.
BMW had asked for more than $324 million from the government.
Although the government increased its opening offer of $190
million, the final amount is thought to be short of what the
German firm wanted.
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