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4-Traders Homepage  >  Equities  >  Tokyo  >  Mazda Motor Corp    7261   JP3868400007

MAZDA MOTOR CORP (7261)
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Mazda Motor : Japanese automakers Toyota, Mazda to build joint plant in US

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03/19/2018 | 06:13pm CEST

WASHINGTON: Japanese automakers Toyota and Mazda have announced an investment of $1.6 billion for their new joint manufacturing plant in US state of Alabama.

The plant, to be built in the city of Huntsville, is expected to open in 2021 and is capable of making 300,000 cars a year while creating up to 4,000 jobs, the two companies said on Wednesday, Xinhua news agency reported.

Akio Toyoda, President of Toyota Motor Corp., said he was confident that the plant would be a "built-in-America success story".

The joint plant will be the company's 11th US manufacturing facility and represents its continued commitment in the country.

Alabama Governor Kay Ivey noted that the two companies' plan "will expand innovative automotive manufacturing," adding that "We are proud that this partnership puts Alabama on the forefront of technology in this dynamic global industry."

Alabama is the fifth largest producer of cars and light trucks in the US. With more than 150 Tier one and two automotive suppliers as well as automakers, there are approximately 57,000 automotive manufacturing jobs in the state.

The two Japanese automakers announced in August that they would build a new joint plant in the US. In the fall out of the announcement,about a dozen of US states were in hot pursuit to win the project.

Toyota said the new plant had nothing to do with pressure from US President Donald Trump, who criticized the automaker in January last year for setting up a new plant in Mexico to make cars for the North American market.

(c) 2018, Express Network Pvt Ltd. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
TOYOTA MOTOR CORP -0.20% 6923 End-of-day quote.-5.16%
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Financials ( JPY)
Sales 2018 3 489 B
EBIT 2018 -
Net income 2018 110 B
Finance 2018 66 696 M
Yield 2018 2,44%
P/E ratio 2018 8,19
P/E ratio 2019 8,43
EV / Sales 2018 0,25x
EV / Sales 2019 0,23x
Capitalization 927 B
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Mean consensus HOLD
Number of Analysts 19
Average target price 1 562  JPY
Spread / Average Target 6,5%
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Managers
NameTitle
Masamichi Kogai President, CEO & Representative Director
Seita Kanai Chairman
Tetsuya Fujimoto Managing Executive Officer & Head-Finance
Mitsuo Hitomi Head-Technology Research Center
Akira Marumoto Representative Director & Executive Vice President
Sector and Competitors
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MAZDA MOTOR CORP-3.53%8 624
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BAYERISCHE MOTOREN WERKE4.57%73 037
HONDA MOTOR CO LTD-5.96%62 672