The new assembly plant will be built adjacent to the Total Interior Systems – America (TISA) plant in Gibson County. Toyota Boshoku also owns the TISA facility.

Press Release

PRINCETON, Ind. (Oct. 15, 2007) – Governor Mitch Daniels joined executives from Toyota Boshoku Corporation today to announce the company will locate a new seat frame production and assembly facility here, creating more than 200 new jobs.

The Toyota supplier will build and equip the 201,000 square-foot facility to manufacture and assemble seat frames for the nearby Toyota Motor Manufacturing Indiana plant.

“Final agreement was reached during our recent trade mission, and Toyota Boshoku is the company. Toyota and its suppliers have played a significant role in our economic comeback. In the last three years, their success has resulted in more than 2,500 new Hoosier jobs,” said Daniels.

Construction of the new facility is slated for early 2008 with hiring of new associates and production targeting to begin in 2009. The new seat frame facility will locate adjacent to Total Interior Systems – America (TISA), a joint venture between Toyota Boshoku America and Lear Corporation, which supplies interior systems for Toyota’s minivan, the Sienna, built in Princeton.

“Toyota Boshoku America is proud to build on our presence in Southern Indiana with this new plant,” said Kiyoshi “Nate” Furuta, chairman and chief executive of Toyota Boshoku America. “Toyota Boshoku America is a growing company and we know that Southern Indiana has an experienced and dedicated workforce. We look forward to increasing our activities in Southern Indiana.”

The new Princeton facility will join a network of 22 Toyota Boshoku America facilities across North America that supply Toyota and General Motors with seats, door trims, headliner sub-stratas, carpets, fabrics, straps and round recliners in addition to air and oil filters and power train systems.

“The Governor’s efforts to attract foreign investment to the state are bringing new prosperity and activity to southwest Indiana,” said Sherrell Marginet, president of the Gibson County Board of Commissioners. “We welcome Toyota Boshoku America to GibsonCounty and extend our thanks to the company and all the people involved who made this project reality.”

The Indiana Economic Development Corporation offered Toyota Boshoku America up to $1.8 million in performance-based tax credits and up to $200,000 in training grants based on the company’s job creation plans. The state will also provide GibsonCounty a grant of up to $400,000 to assist in off-site infrastructure needed for the project. The Indiana Department of Workforce Development will assist the company in workforce assessment and testing. GibsonCounty will provide the company property tax abatement and assistance with off-site infrastructure improvements. The Gibson County Economic Development Corporation and the Economic Development Coalition of Southwest Indiana assisted in the effort.

In addition to the announcement of the new facility, Toyota Boshoku executives also announced the company would donate $10,000 to the Gibson General Hospital Emergency Room expansion fund to support the community’s growing need for quality health and emergency care.

Toyota Boshoku is an active contributor to the communities where its facilities are located and is dedicated to operating plants in an environmentally friendly manner. Its joint venture, TISA, is one of 14 companies in Indiana chosen to participate in the Indiana Environmental Stewardship Program, a performance-based leadership program designed to recognize and reward Indiana regulated entities for going above and beyond current state environmental regulations. Toyota Boshoku will use state-of-the-art technology to minimize the use of water, electricity and natural gas in its Indiana plant. The company pioneered the use of the Kenaf plant, a fast-growing annual plant from Indonesia that absorbs carbon dioxide, in manufacturing door trims for vehicle interiors. Toyota Boshoku now supplies Kenaf-based boards to interior parts factories all over the world.

Today’s announcement comes less than a month after Daniels returned from his 7-day trade mission to Japan. The mission, his third to Asia in three years, sought to in-source jobs to Indiana from companies who currently operate in Indiana and those who may consider Indiana for future investments. During the trip, Daniels met with top executives from Toyota Boshoku, Toyota Motor Corporation, Honda and Sony.

More than 220 Japanese companies have invested more than $8.7 billion in Indiana. Those companies employ more than 42,000 Hoosiers. Since 2005, the Indiana Economic Development Corporation has completed 28 competitive projects with Japanese businesses, making Indiana the top state in jobs and investment captured.

About Toyota Boshoku

The Toyoda (now Toyota) Boshoku Corporation was founded by Sakichi Toyoda in 1918, and became the foundation for what later evolved into the Toyota Group. Toyoda Boshoku helped establish Toyota Motor in the 1930’s by providing start-up capital and dispatching key executives to the car company. The famous Toyota Production System (TPS) was created with the former employees of Toyota Boshoku. In 2004, Toyota Boshoku merged with Araco Corporation and Takanichi Co., Ltd. to become Toyota Boshoku Corporation.Toyota Boshoku Corporation is based in Kariya, Japan, with revenues of $9.5 billion and operations in over 20 countries. It’s wholly-owned subsidiary, Toyota Boshoku America and its affiliates employ 6,600 team members and has 22 locations throughout the United States, Canada, Mexico and Argentina. For more information, visit www.toyota-boshoku.co.jp/en.

About IEDC

The Indiana Economic Development Corporation is the state’s premier entity charged with economic development. The IEDC has a 12-member board chaired by Governor Mitch Daniels. Indiana Secretary of Commerce Nathan Feltman is also chief executive officer of the IEDC. For more information, visit www.iedc.IN.gov.

Source: Indiana Economic Development Corp.