TOYOTA COMMITS P3.34-BILLION FOR RP EXPANSION

Sta. Rosa, Laguna, May 31, 2003 -- Leading Japanese car assembler Toyota 
Motor Philippines Corp. (TMPC) commits P3.34 billion in spendings to 
modernize its existing manufacturing facilities in Sta. Rosa Industrial 
Complex.

Bulk of the total cost valued at P1.65 billion will be infused to put up 
new production lines and construction of new storage room for 
completely-built-up (CBU) vehicles, including new administrative service 
center and other buildings.

The planned construction of additional production lines will be utilized 
for the assembly of its leading models such as Corrola Altis, Camry and the 
best selling Toyota Revo.

When completed, the plant is envisioned to be the most modern local 
facility for the production of high-quality automobiles capable of 
simultaneous production of passenger cars and commercial vehicles. It will 
also include state-of-the-art facilities for the production of chassis 
frame for commercial vehicles.

In addition, Toyota Autoparts Philippines Inc. (TAP) will invest P1.01 
billion for transmission and other related projects.

Toyota Motor Corp. of Japan has decided to source their requirements for 
transmission units for export to Japan from TAP. This was earlier agreed in 
a meeting between TMC president Fujio Cho and President Arroyo in October 
last year. (By Ayen Infante, Tribune)

Reported by: Sol Jose Vanzi

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