Toyota Building Parts Plant In Canada

New $58 million facility will create 330 jobs.

TORONTO (AP) - Toyota Boshuku Corp. said it will build a $58 million parts plant in Woodstock, Ontario, creating 330 jobs.

The plant will supply seats, door trim and carpets for 150,000 vehicles annually for automaker Toyota Motor Corp., which is building an assembly plant in the southern Ontario city.

Toyota Boshuku will supply parts for the RAV-4 SUV that the automaker will build at the Woodstock plant starting in 2008. The parts company is already a major supplier to Toyota Motor's U.S. plants.

The Toyota Boshoku plant will be a boost for Woodstock, which also has a new plant for Hino Motors Ltd., Toyota's commercial truck line.

Toyota Boshoku has 15 factories in North America, including joint ventures.

Toyota Boshoku was formed in October 2004 with the merger of the former Toyoda Boshoku Corp., the automotive interiors division of Araco Corp. and Takanichi Co. Ltd.

''This new investment is one more vote of confidence in Ontario and our skilled and talented work force,'' said Ontario Trade Minister Joseph Cordiano. ''We worked very hard to bring the new Toyota plant to Woodstock and now we're seeing the wider benefits come into play.''

There was no immediate word on any government financial incentives.

More in Operations