FRANKLIN, Ky. (June 8)—Toyo Tire & Rubber Co. Ltd. will invest $30 million to build an automotive anti-vibration system parts plant in Franklin, company officials said. Toyo will set up a new company, Toyo Automotive Parts (USA) Inc., to oversee construction of the 110,000-sq.-ft. facility and run the business. The unit is expected to provide 145 jobs locally and produce sales of $32 million annually by 2006, Yasuo Ito, president of the new venture, said at a news conference in Franklin. The facility will be near Toyota Motor Manufacturing Kentucky Inc. and Nissan Motor Manufacturing Corp. assembly plants in Georgetown and Smyrna, Tenn., respectively. Construction is set to begin in July with production start-up slated for July 2002, Ito said. Toyo, among the world's 10 largest producers of rubber-to-metal bonded AVS parts, said the factory is part of a company strategy to strengthen AVS as a core business. Toyo expanded this business area significantly in 1999 when it took a minority ownership position in Kinugawa Rubber Industrial Co. Ltd., a Nissan Motor Co. subsidiary.
Toyo to build automotive parts plant in U.S.
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