Rochester, NY 7/10/2009 11:59:47 PM
Stock Exchange News - TM - Toyota says retooling Indiana plant will Cost $500 million - Sourced WhisperFromWallStreet.com
TOYOTA MTR CP ADS
Stock Exchange News - TM - Toyota says retooling Indiana plant will Cost $500 million - Sourced WhisperFromWallStreet.com
COMPANY - TOYOTA MTR CP ADS,TM
NEWS - Toyota Motor Corp. says in a federal filing that retooling its southwestern Indiana plant for production of the Highlander sport utility vehicle will cost about $500 million. Toyota announced last year that it would start building the midsize SUV at the Princeton factory, replacing the plant's Tundra pickup assembly line. Production of the smaller Highlander, which some hope will be more popular given high gas prices, is scheduled to begin in October. Toyota spokeswoman Kelly Dillon said the $500 million, which was disclosed in a document filed with the Security and Exchange Commission on June 24, will be used solely for new equipment, not to expand the Princeton factory or create additional jobs. Once the new equipment is in place, workers at the site will be able to make about 300,000 vehicles a year.
Real-Time: 73.28 Down 0.37 (0.50%) 12:32pm ET
Last Trade: 73.38
Day's Range: 73.02 - 73.99
52wk Range: 55.41 - 94.46
Volume: 90,817
ABOUT - Toyota Motor Corporation operates in the automotive industry worldwide. It engages in the design, manufacture, assembly, and sale of passenger cars, minivans, and trucks and related parts and accessories. The company offers hybrid vehicles primarily under the Prius brand, which run on a combination of gasoline engine and motor. Its products also comprise conventional engine vehicles, including subcompact and compact cars primarily consisting of Corolla sedan, Corolla Rumion, Yaris, iQ, Scion xB, and Scion xD brands; mini-vehicles, passenger vehicles, commercial vehicles, and auto parts; mid-size models comprising Camry, REIZ, Mark X, Premio, Allion, Blade, and Avensis brands; and luxury models encompassing Lexus, Crown, and Century limousine.
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