August 2021 Group Watch: Three Companies Team Up for $40M Plant in Alabama
Three companies with more than a century of experience in the U.S. steel and auto industries are teaming up in a joint venture called Madison Metal Processing that will operate a new, $40-million factory near Huntsville. The companies collaborating in the venture are Toyota Tsusho America Inc., Southern Mobility Products and SteelSummit Holdings, a subsidiary of Sumitomo Corp. of Americas. Starting later this year, Madison Metal Processing will supply steel blankets, the precursor to automotive surface body parts, for up to 300,000 vehicles produced at the Mazda Toyota Manufacturing auto assembly plant in Huntsville as well as other auto suppliers. The 110,000-square-foot Alabama facility is bringing 40 new jobs to the region. Full production is planned for mid-2022, with trial production already under way.
