Toyota and FAW Group Corporation jointly set up new dying plant in China

Written by: S.M.Mehdi Hassan
Toyota Motor Corporation and China FAW Group Corporation have jointly set up a new plant to produce stamping dies for Toyota vehicles. According to the report of Inverstors.com--
Toyota Motor Corporation (TMC; TSE:7203) announced today that Toyota FAW (Tianjin) Dies CO., LTD. (TFTD), its stamping die-production joint venture with China FAW Group Corporation (FAW) in China, can now produce automotive stamping dies (such as for automobile body panels) for six vehicle models a year, up from three. In addition to production for the Chinese market, TMC also said TFTD has started production for export, initiating the first ever export of Toyota automotive stamping dies made outside Japan.
The total cost for setting up the plant was 50 million US dollar. This is the second dying plant of Toyota. The plant uses latest technology to produce car stamping dyes known as “cloning,” which would not only shorten the production time but also enable the production of dies digitally in batches. Along with increasing production and shortening the production cycle the plant will also work with environment friendly and fully recyclable materials to produce stamping dyes for cars. The plant is built in “Tianjin Economic-Technological Development Area (TEDA).” A ceremony was held today to mark the plant’s first day of production. Li Yong, Chairman, Tianjin Economic-Technological Development Area (TEDA) Administrative Commission; Taminori Yanagisawa, President, TFTD; Qin Huanming, Vice President, FAW; Akio Toyoda, Executive Vice President TMC; Nobuyoshi Hisada, Managing Officer TMC; and a large number of guests from Tianjin government attended the ceremony.

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