TOYOTA CHOOSES UK FOR EUROPEAN PASSENGER CAR PLANT

Toyota City―TOYOTA MOTOR CORPORATION today announced the selection of Burnaston in South Derbyshire, UK as the location for the company's new passenger car plant in Europe. The announcement immediately followed a statement by British Secretary of State for Trade and Industry, Lord Young, in the House of Lords.

Construction is scheduled to begin in the spring of 1990 with the start of production slated for late 1992. The plant will produce a 1,800cc Carina II (Corona in Japan) class vehicle. Facilities will be built for stamping, body welding, paint, plastics and assembly operations.

Toyota anticipates that the plant will eventually employ 3,000 and produce 200,000 cars annually. The total investment will be £700 million.

Speaking at a joint press conference with Lord Young in London, Toyota Motor Corporation President, Shoichiro Toyoda said, "All of us at Toyota will do everything possible to earn acceptance for this plant as a truly British venture and as a genuinely European operation. We will pursue active exchange of technology. And we will do our utmost to integrate production locally. In short, we will become a cooperative and contributing member of the European automobile industry."

He went on to say, "What we most want to do is expand and integrate our activities throughout Europe as a valued member of the community in each nation."

Today's announcement is the culmination of a feasibility study announced by Toyota in January of this year. At that time, the company said that it considered the UK a leading candidate for the new plant.