Toyota Industries will invest $55.9 million to build new truck facility in Sao Paolo, Brazil.
The new plant is expected to start production in 2013, and it will be the manufacturing division of the company’s existing sales facility, Mercosur Industria e Comercio de Equipamentos. The new facility will replace Toyota’s imports from US with local production and increase sales in the Brazil market. Toyota Industries offers a full range of lift trucks and other materials handling equipment to customers worldwide.
“The addition of the Brazil plant strategically strengthens TICO’s capabilities to meet the unprecedented product demands of the emerging Brazilian market. TICO’s long-term strategy is to continue to study and establish the best production and distribution structure throughout the world to meet demands of emerging markets,” said Kazue Sasaki, senior managing director in charge of TICO’s Materials Handling Equipment Division.
The plant is expected to produce 5,000 forklift units annually at the new Brazilian plant in fiscal 2014, ending March 2015, raising its sales in the country to some 7,000 units from the current 4,000 including those imported from its U.S. factory. If the time needed to deliver products after receiving order is now from 3 to 5 months, the new plant will reduce the period to 1 month.