Toyota Motor Corporation of Japan (TMC), Toyota SA and Calater Corporation of Japan have embarked on a R180m joint venture to produce 1 million exhaust catalysts per year, reports `Business Day` (12/7/00).

The new manufacturing company, to produce the exhausts in the second half of next year, is to become the fourth source of catalytic converters for Toyota.

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TMC was now accelerating its globalisation of its manufacturing operations, according to Toyota`s President Fujio Cho, which now involves 41 manufacturing facilities in 25 countries worldwide.

The shareholdings of each company within the venture, which will see TMC involved as an investor according to Cho, have not yet been decided.

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