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Benzinga
Benzinga
Business
Shivani Kumaresan

Toyota Makes $27M Investment In Long Beach Facility

TM Toyota Long Beach California Baja Chris Reynolds Guanajuato Mexico NYSE Toyota Motor Corp
  • Toyota Motor Corp (NYSE:TM) Toyota Motor North America will make a $27 million investment in its manufacturing plant in Long Beach, California, Toyota Auto Body Company (TABC).
  • The investment will equip TABC with the first coil-fed laser blanking line, expand blanking capability and increase capacity to cut 5.6 million blanks annually.
  • The added capabilities will enable TABC to better support Tacoma production at TMNA facilities in Baja, California, and Guanajuato, Mexico.
  • "Toyota's roots in California run deep," said Chris Reynolds, EVP, Corporate Resources, TMNA.
  • Price Action: TM shares are trading higher by 3.19% at $171.23 on the last check Wednesday.
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