TTCA Welcomes Fuel Total Systems California Corporation to the Central Valley
SACRAMENTO, Calif.--June 19, 2002--The California Technology, Trade and Commerce Agency (TTCA) welcomed Fuel Total Systems California Corporation to the state, in a groundbreaking ceremony today in Lathrop.
Fuel Total Systems California Corporation is a wholly owned subsidiary of Japan-based FTS Co., Ltd., a joint venture parent company of Toyoda Gosei Co., Ltd., Horie Metal Co., Ltd., and Toyota Motor Corporation. The new company will make fuel tanks and fuel delivery systems for the New United Motors Manufacturing Incorporated facility in nearby Fremont. The company eventually hopes this facility will be a key part of its global supply network, supplying the U.S. auto industry with fuel systems. Manufacturing is expected to start when construction is complete in May 2004. The plant will create 70 new jobs for people in the Central Valley.
"On behalf of the state of California, I would like to extend my warmest congratulations to Fuel Total Systems California Corporation on the opening of its manufacturing facility in Lathrop," said Governor Gray Davis in letters to President Taketo Matoba of FTS Co., Ltd. and President Kyoji Ikki, of Fuel Total Systems California Corporation. "Your decision to expand your operations in our state represents an important and welcome demonstration of confidence in California's economy."
"This is an exciting development for California because it exemplifies the state's standing as a world leader in foreign investment, manufacturing, and global trade," added TTCA Secretary Lon S. Hatamiya. "Our Agency's Office of Foreign Investment, Sacramento Regional Office, and Tokyo Trade and Investment Office worked for nearly a year with the San Joaquin Partnership to help company executives find the right place for their West Coast manufacturing facility. We are delighted they've chosen Lathrop."
In July 2001, company executives contacted TTCA with a request for assistance in identifying a 10-12 acre parcel for its West Coast manufacturing facility. TTCA's Office of Foreign Investment provided vital economic information, and brought together key members of the company, its consulting firm and state officials for meetings. TTCA officials took them on a site search and tour of several locations in the Central Valley. Between December 2001 and January 2002, the company worked directly with the City of Lathrop to complete a development agreement and finalize environmental issues. A final decision to purchase the 11-acre parcel in the Crossroads Centre Business Park was made in March 2002. That led to today's ground breaking of an initial $10 million foreign investment that may grow substantially in the coming months, for the 120,000 square foot facility in Lathrop.
Besides bringing an economic benefit to California, Fuel Total Systems California Corporation will benefit the state environmentally. Increasing, as the demand for cleaner and safer automobiles escalates, tanks made of resin and of plastic compound materials will facilitate lighter weight vehicles, and thereby meet stricter emission level requirements such as LEV-II set by the California Air Resources Board, according to FTS Co., Ltd. Fuel Total Systems California Corporation hopes to reach $47 million in sales by 2004, and $86 million by 2007.
For more information on Toyoda Gosei Co., Ltd., visit www.toyoda-gosei.co.jp/english/. For Horie Metal Co., Ltd., visit www.asnohorie.co.jp/. For Toyota Motor Corporation, visit www.global.toyota.com/.
Today's groundbreaking is the third event in as many weeks, noting California's unique collaboration with Japan and some of its global corporations in terms of foreign investment and trade. On June 3, Secretary Hatamiya participated in the "Line-Off Ceremony" in Fremont for the new Toyota Voltz automobile that is made in California and exported to Japan. On June 6, TTCA officials participated in the announcement of the first U.S. assembly plant for Hino Motors located in Toyota/TABC's Long Beach facility, and helped celebrate the company's 30th anniversary of doing business in the city.
The California Technology, Trade and Commerce Agency serves as the state's principal catalyst for innovation, investment and economic opportunity, enhancing the quality of life for all Californians.
Visit http://commerce.ca.gov for more information.