It now seems not all Toyota UK component suppliers will be asked to invoice the company in euros, as Toyota Motor Manufacturing (UK) Ltd has clarified last week’s statement. It now says that it only expects the larger of its 120 U.K suppliers to invoice in euros and then, only on new contracts, not existing ones.
It has been reported that the company has no active programme to transfer Toyota Motor Manufacturing’s supplier base to Euroland. But the company is seeking to achieve cost reductions.
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