Toyota Invests P5.4 B to Double Production Capacity
August 22, 2008 by Tsikot
Toyota Auto Parts Philippines Inc. (TAP), a subsidiary of Toyota Motor Philippines (TMP), has invested an additional P5.4 billion to double the production capacity of its transmission plant in Laguna.
“We will be intensifying our exports of transmissions to the ASEAN and Africa,” Toyota vice president Rommel Gutierrez said in a telephone interview.
Gutierrez said they will be announcing their expansion during tonight’s celebration of Toyota’s 20th anniversary in the Philippines.
The transmission plant in Sta. Rosa, Laguna, which is operating at full capacity, has a total output of 180,000 units per year. With the expansion in place, Gutierrez said the number will increase to 330,000 units each year.
The expansion is set to be completed by the end of the month.
Toyota exports the parts to major Asian countries such as Taiwan, Vietnam, Thailand, Malaysia, Indonesia, India and even in South Africa.
The multi-billion Sta. Rosa facility is Toyota’s fourth R-type transmission production plant in the world in addition to Aisin Al Japan, Aisin Al Thailand and ToyotaKirloskar AutoParts in India.
From the time TAP was established in 1990, it has produced G-type transmissions and constant velocity joints.
Meanwhile, Gutierrez said after two decades of operating in the country Toyota will continue to focus on their completely knocked down (CKD) operations.
“We will be strengthening our CKD operations. This is very important to us,” he highlighted.
Toyota is confident that it will grow faster than the industry target with a 10-percent sales growth target as opposed to the five-percent industry growth target.
To attain this, Gutierrez said they would have to sell close to 50,000 units this year. The industry target is 124,000 units.
Gutierrez admitted that this year would be more challenging than the last but strong branding and the introduction of new product lines will help them achieve their goal.
“We are the only car company in the country which has attained pre-financial crisis results in terms of sales,” he said.
By Ma. Elisa P. Osorio , Philippine Star
Link to this Article
Loading ...
Comments
Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!