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News Releases / 2012

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[Translation]
January 26, 2012
New Compressor Parts Manufacturing Company to be Established in North America
Toyota Industries Corporation (TICO) hereby announces that the establishment of Toyota Industries Compressor Parts America, Co. (TICA), a new company that is to manufacture parts for the North American car air-conditioning compressor market has been approved at its board of directors meeting on January 26, 2012.
  1. Purpose of the Establishment of the New Company
    TICO is currently supplying automobile manufacturers in the North American market with car air-conditioning compressors that are locally manufactured at Michigan Automotive Compressor, Inc. (“MACI”, established in 1989) and TD Automotive Compressor Georgia, LLC (“TACG”, established in 2004).
    However, with growing environmental consciousness in the North American automotive market in recent years, the demand for variable-displacement type compressors with excellent fuel efficiency has been increasing. TICO therefore plans to expand its production capacity of this compressor type in North America.
    Accordingly, TICO will establish a new company to manufacture parts for the North American car air-conditioning compressor market. These parts will then be supplied to MACI and TACG.

  2. Profile of Toyota Industries Compressor Parts America, Co. (TICA)
    1) Location:   Pendergrass Georgia, USA
    2) President:   To be determined
    3) Description of business:   Manufacture of parts for variable displacement type car air- conditioning compressors
    4) Capital:   US$150 million (Approx. 12 billion yen)
    5) Date of establishment:   February 2012 (scheduled)
    6) Ownership:   Toyota Industries North America, Inc. (TINA) 100% (A wholly-owned subsidiary of TICO, holding company in North America)
    7) Total investment:   US$350 million (Approx. 28 billion yen)
    8) Building area:   58,000 m2 (Approx. 624,000 square feet)
    9) Employees:   Approx. 320
          *Conversion rate: $1 = 80 yen

  3. Effect on Business Performance
    Effects to the business performance of this fiscal year and the next will be minimal.

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