Apr. 09, 2012
Toyota Motor Corporation
Toyota Tsusho Corporation
Toyota Tsusho Corporation
Toyota Marks Start of SUV Assembly in Egypt
Cairo, Egypt, April 9, 2012―Toyota Motor Corporation (TMC) and Toyota Tsusho Corporation (Toyota Tsusho) announce that Toyota Motor Engineering Egypt S.A.E.* (TMEE) held a line-off ceremony here today for the "Fortuner" SUV at a plant belonging to Arab American Vehicle Co. (AAV), an assembly subcontractor.
AAV is to produce approximately 3,000 Fortuner SUVs a year, with TMEE managing various aspects of the operation, including vehicle quality control, supply and demand management, and logistics management.
Attendees of the ceremony included government officials such as Arab Republic of Egypt Minister of Trade and Industry Mahmoud Eissa, Minister of Planning and International Cooperation Faiza Abulnaga, Minister of Foreign Affairs Mohamed Kamel, Arab Organization for Industrialization Chairman Hamdy Weheba, AAV Chairman Hussein Mustafa, TMEE President Shinji Yanagi, Toyota Egypt S.A.E. Chief Executive Officer Ahmed Monsef, Toyota Tsusho President Jun Karube and TMC Senior Managing Officer Hisayuki Inoue.
At the ceremony, Toyota Tsusho's Karube noted the significant challenges that local suppliers have taken on, saying also: "It is not too much to say that this Fortuner project could not be realized without each supplier's tremendous effort." Representing TMC, Inoue said: "I would also like to take this opportunity to offer my sincerest appreciation to the various government agencies, component suppliers and all those who...continued to be greatly understanding and supportive from the initial stages of this enterprise until this very day. Toyota is convinced that Egypt...is a market with immense potential. Toyota is committed to doing whatever it can to contribute to Egypt's economy and the country's enduring automotive industry".
Toyota began selling imported Toyota vehicles in Egypt through Toyota Egypt in 1979. Toyota sold approximately 10,000 vehicles in the country last year.
AAV is to produce approximately 3,000 Fortuner SUVs a year, with TMEE managing various aspects of the operation, including vehicle quality control, supply and demand management, and logistics management.
Attendees of the ceremony included government officials such as Arab Republic of Egypt Minister of Trade and Industry Mahmoud Eissa, Minister of Planning and International Cooperation Faiza Abulnaga, Minister of Foreign Affairs Mohamed Kamel, Arab Organization for Industrialization Chairman Hamdy Weheba, AAV Chairman Hussein Mustafa, TMEE President Shinji Yanagi, Toyota Egypt S.A.E. Chief Executive Officer Ahmed Monsef, Toyota Tsusho President Jun Karube and TMC Senior Managing Officer Hisayuki Inoue.
At the ceremony, Toyota Tsusho's Karube noted the significant challenges that local suppliers have taken on, saying also: "It is not too much to say that this Fortuner project could not be realized without each supplier's tremendous effort." Representing TMC, Inoue said: "I would also like to take this opportunity to offer my sincerest appreciation to the various government agencies, component suppliers and all those who...continued to be greatly understanding and supportive from the initial stages of this enterprise until this very day. Toyota is convinced that Egypt...is a market with immense potential. Toyota is committed to doing whatever it can to contribute to Egypt's economy and the country's enduring automotive industry".
Toyota began selling imported Toyota vehicles in Egypt through Toyota Egypt in 1979. Toyota sold approximately 10,000 vehicles in the country last year.
Overview of Toyota Motor Engineering Egypt S.A.E.
| Establishment | June 2011 |
| Location | Cairo, Egypt |
| President | Shinji Yanagi |
| Capital | 8 million U.S. dollars |
| Equity participation | TMC: 40%, Toyota Tsusho: 40%, Toyota Egypt: 20% |
| Main business | Assembly outsourcing, vehicle quality control, supply and demand management, logistics management |
| Employees | 11 (as of April 9, 2012) |
*A joint venture established by TMC, Toyota Tsusho and Toyota Egypt S.A.E., TMC's independent vehicle distributor in Egypt
