Steel Summit Holdings, Toyota Tsusho America, and Southern Mobility Products have formed a new joint venture called Madison Metal Processing (MMP), a $40mn auto steel blanking plant in Alabama.
According to media reports, the 110,000sq ft factory is located in Limestone County, Alabama, and is expected to process 4535.92mt of steel monthly to make steel blanks for about 300,000 vehicles manufactured at the Mazda Toyota plant and other automotive dealers. Trial output has already started with full production expected to begin next year.
The factory currently has a workforce of 40 persons. MMP is a full-service steel processing service center, specializing in blanking and warehousing hot rolled steel, cold-rolled steel, and exposed and coated steel products.