Sep. 12, 1989

SIAM TOYOTA MANUFACTURING CO. OPENS

 

Toyota City―TOYOTA MOTOR CORPORATION (TMC) today opened its new engine manufacturing company, Siam Toyota Manufacturing Co., Ltd. (STM), located in the suburbs of Bangkok, Thailand.

Ceremonies were held this morning at the STM plant, with prominent members of the Thai political and business world in attendance.

Preparations for the project have been under way since July 1987. In July of this year, the assembly of 2.4-liter diesel engines and other items previously undertaken by Toyota Motor Thailand Co., Ltd. (TMT) were taken over entirely by STM, along with the commencement of engine parts machining. Total investment at the new engine plant is about ¥6 billion.

Currently running on a full one-shift schedule, the plant is producing 140 units a day. Most of the engines being produced at the plant are being shipped to TMT for mounting in the Hilux model destined for the Thai market, and some are being shipped to Salvador Caetano I.M.V.T., S.A., Toyota's plant in Portugal, for the manufacture of commercial vehicles. In line with a policy established by the Thai Board of Investment (BOI), efforts will be made in the future to increase the local procurement ratio, and exports will be expanded.

STM and the opening ceremony are outlined below.
Outline of Opening Ceremony
  1. Date and time
    September 12, 9:00 to 10:30 (local time); 11:00 to 12:30 (Japan time)
  2. Principal attendants
    BOI Secretary-General Chira Panupong, representing the Thai government, as well as STM Chairman Paron Israsena Na Ayuthaya, STM President Yoshikazu Nanbu, and TMC Senior Managing Director Masaharu Tanaka
Profile of STM
  1. Capital
    150 million baht, approx. ¥800 million
  2. Investors
    The Siam Cement Co., Ltd. (40%), Industrial Finance Corporation of Thailand (10%), Nippon Denso Thailand Co., Ltd. (10%), TMC (40%)―60% from Thailand and 40% from Japan
  3. Total investment
    Approximately 1 billion baht (about ¥6 billion yen)
  4. Executives
    • Chairman (non-regular)
      Paron Israsena Na Ayuthaya, President of The Siam Cement Co., Ltd., Senator, and Chairman of the Association of Thai Industries
    • Vice Chairman (non-regular)
      Masaharu Tanaka, Senior Managing Director of TMC
    • President
      Yoshikazu Nanbu, President of TMT
  5. Location
    Latkrabang Industrial Estate in the suburbs of Bangkok
  6. Main activities
    Machining, assembly, and sales of 2.4-liter diesel engines and 1.6-liter gasoline engines for the Hilux
  7. Work force
    Approx. 70 employees