TABC Announces 4-Cylinder Engine Assembly - Toyota Parts Plant Expands Capabilities

LONG BEACH, Calif., May 30, 2003 -- TABC, Inc., Toyota's longest operating U.S. manufacturing facility, today announced the assembly of four-cylinder engines for the Tacoma pick-up truck.

The Long Beach plant will assemble approximately 68,000 four-cylinder engines annually for the Tacoma, beginning in 2005. The expansion represents an approximate $7 million additional investment by Toyota in TABC.

"The expansion of responsibilities for TABC is a credit to our team members who build top quality products, as well as to the Long Beach community," said TABC president Seiji Ikezaki. "This decision by Toyota is testament to the confidence Toyota Motor Corp. has in TABC's flexibility and our team members' abilities."

This is the latest step in the growth of TABC, which was established in 1972. In June 2002, Toyota announced that Japan-based Hino Motors, Ltd. would establish its first U.S. manufacturing operation at TABC. Beginning in 2004, TABC and Hino will assemble medium-size commercial panel trucks to be sold in North America. Annual production the first year will be 4,000 units.

Hino Motors is an affiliated company of Toyota Motor Corporation. The company produces a range of commercial vehicles and supplies trucks and buses to over one hundred countries throughout the world.

TABC currently produces truck beds, catalytic converters, power steering columns and substrates for Toyota vehicles and employs nearly 600 people at its Long Beach plant.

By 2006, Toyota will have capacity to build 1.65 million cars and trucks a year and 1.16 million engines in North America. Toyota currently employs some 34,000 people throughout North America. The company's direct investment is nearly $14 billion with annual parts, materials, goods and services purchased from North American suppliers totaling nearly $20 billion. Toyota's North American-produced vehicles include the Avalon, Camry, Corolla, Matrix, Sienna, Solara, Sequoia, Tacoma and Tundra, and Voltz. Beginning in the fall of 2003, the Lexus RX 330 will be produced at the automaker's plant in Ontario, Toyota Motor Manufacturing Canada.

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