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Toyota invests US$170m in Mississippi plant

News

June 2018

During a ceremony for Toyota Mississippi's new visitor and training centre, the company announced that it would invest US$170 million to build the 12th generation Corolla using Toyota New Global Architecture (TNGA). The TNGA investment enables the assembly plant to stay competitive globally, it said.

"We will be able to respond quicker and be more flexible in meeting market demands down the road," said Toyota Mississippi President, Sean Suggs. "I'm very proud of our team members and the partnerships we have developed across the state."

Sean Suggs

Sean Suggs, President, Toyota Mississippi

The implementation of TNGA, along with an overall increase in production, will create 400 new jobs over the next 12 months. This investment directly supports Toyota's plan to invest US$10 billion in its U.S. facilities over the next five years. This investment brings the company to US$4.27 billion of new investment in the U.S. since the commitment was announced in 2017. Toyota's total investment in the U.S. over the past 60 years is US$25 billion.

The U$170 million investment in the Mississippi assembly plant will include a complete replacement of the current production lines, allowing the facility to produce advanced vehicles more efficiently and better adapt to changing market needs. TNGA is a new approach to the way Toyota designs, engineers and produces its vehicles.

TNGA improves performance of all models and shortens the development cycle for vehicle improvements and new vehicles by providing a more flexible production environment. This new announcement brings Toyota's investment in this facility to more than US$1 billion since 2007.

Toyota will work with its hiring partner, ResourceMFG, to hire 400 team members to meet the growing demand for the Toyota Corolla.

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VDW raises production output forecast for 2018

News

June 2018

In the first quarter of 2018, order bookings in the German machine tool industry rose by 22 per cent, compared to the preceding year’s equivalent period. Domestic orders were up by 39 per cent. Orders from abroad increased by 15 per cent.

“Our sector is continuing to turn in a highly dynamic performance during 2018,” commented Dr. Wilfried Schäfer, Executive Director, VDW (German Machine Tool Builders’ Association). “Last year’s excellent performance is being seamlessly progressed. Domestic orders remain the prime mover, more than double the demand from overseas.”

Dr. Wilfried Schäfer

Dr. Wilfried Schäfer, Executive Director of the VDW (German Machine Tool Builders’ Association)

Metal-cutting and forming technologies made equal contributions to the first quarter’s growth. Capacity utilisation was running at 93.4 per cent. The ongoing boom in almost all user industries worldwide had already driven production output and order bookings to a record high last year. Recording an increase of seven per cent, production output had in 2017 passed the 16-billion-euro mark.

“Based on a sizeable increase in orders last year, which is set to continue, we see potential for higher growth in production output in 2018 than was initially anticipated in February and are raising our production output forecast from five to another seven per cent growth,” added Dr. Schäfer.

The sector is confident that the global economy will continue to offer a good business environment for the industry’s investments. The upturn in demand, said the VDW, is based on a broad foundation of technologies and markets. High capacity utilisation necessitates capital investment in expansions and replacements.

“If bottlenecks in the production process, staffing and component deliveries do not become too serious, this ambitious target should be well within reach,” concluded Dr. Schäfer.

The German machine tool industry ranks among the five largest specialist groupings in the mechanical engineering sector. Its development is an important indicator for the economic dynamism of the industrial sector as such. In 2017, with most recently over 72,000 employees (status at the end of 2017, firms with more than 50 staff), the sector produced machines and services worth around 16.1 billion euros.

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