Joint venture to oversee toyota suv assembly in egypt

Toyota City, Japan, October 25, 2010—Toyota Motor Corporation (TMC), Toyota Tsusho Corporation (Toyota Tsusho) and Toyota Egypt S.A.E. (Toyota Egypt), TMC's independent vehicle distributor in Egypt, announce they will establish a company to oversee the assembly of Toyota-brand vehicles in Egypt.

The company will outsource to local assemblers assembly of "Fortuner" SUVs, using parts mostly made in Thailand, with a planned annual output of approximately 3,000 vehicles, to start in early 2012. The company will also perform quality control, supply and demand management, and logistics management.TMC, Toyota Tsusho and Toyota Egypt plan to conclude a joint-venture agreement by mid-November, and the company will be formally established in mid-December.TMC started exporting to and selling vehicles in Egypt in 1979 though Toyota Egypt it sold approximately 15,000 vehicles there in 2009.