Dec. 16, 2011
Toyota Holds Ceremony to Mark IMV Production Capacity Increase in Argentina
Toyota City, Japan, December 16, 2011―Toyota Motor Corporation (TMC) announces that Toyota Argentina S.A. (TASA), TMC's vehicle production subsidiary in Argentina, held a commemorative ceremony at TASA's Zarate plant in Buenos Aires yesterday (December 15, local time) to mark an increase in vehicle production capacity at the plant.
National and state government officials including President Cristina Fernández de Kirchner and Governor Daniel Sciolo attended the ceremony. Also in attendance were TASA President Daniel Herrero and representatives from Toyota-related local affiliates.
The increase in production capacity aims to meet strong demand for IMV (Innovative International Multi-purpose Vehicle) Project* series vehicles in Latin America. Production capacity expansion of the Zarate Plant finished in November, with annual vehicle production capacity increased to 92,000 units from 65,000 units. The production increase represents an additional investment of approximately 126 million U.S. dollars and the creation of approximately 650 new jobs at TASA.
TASA is TMC's IMV series supply base for Latin America and has been producing the Hilux and Fortuner since 2005. Before the production capacity increase, approximately 70 percent of the 65,000 vehicles produced annually at TASA were exported to approximately 10 Latin American countries, primarily to Brazil. The production capacity increase will result in an increase of the export rate to 75 percent.
TMC, as stated in the Global Vision announced in March of this year, will continue strengthening its activities in emerging markets. Aiming to produce vehicles that exceed expectations, TMC will continue its efforts to contribute to the building of prosperous towns and communities.
National and state government officials including President Cristina Fernández de Kirchner and Governor Daniel Sciolo attended the ceremony. Also in attendance were TASA President Daniel Herrero and representatives from Toyota-related local affiliates.
The increase in production capacity aims to meet strong demand for IMV (Innovative International Multi-purpose Vehicle) Project* series vehicles in Latin America. Production capacity expansion of the Zarate Plant finished in November, with annual vehicle production capacity increased to 92,000 units from 65,000 units. The production increase represents an additional investment of approximately 126 million U.S. dollars and the creation of approximately 650 new jobs at TASA.
TASA is TMC's IMV series supply base for Latin America and has been producing the Hilux and Fortuner since 2005. Before the production capacity increase, approximately 70 percent of the 65,000 vehicles produced annually at TASA were exported to approximately 10 Latin American countries, primarily to Brazil. The production capacity increase will result in an increase of the export rate to 75 percent.
TMC, as stated in the Global Vision announced in March of this year, will continue strengthening its activities in emerging markets. Aiming to produce vehicles that exceed expectations, TMC will continue its efforts to contribute to the building of prosperous towns and communities.
Overview of Toyota Argentina S.A. (as of September 30, 2011)
| President | Daniel Herrero |
| Establishment | May 1994 |
| Location | Zarate, Provincia de Buenos Aires, Argentina |
| Start of production | February 1997 |
| Products | Hilux, Fortuner |
| Production capacity | 92,000 vehicles per year |
| Capital | 260 million Argentine pesos |
| Equity participation | TMC: 100% |
| Employees | Approx. 4,000 |
*Aimed at creating an optimal production and supply network on a global scale; the project consists of three pickup trucks, a minivan and an SUV.
