News of June 20, 2001
Henry Jackson, Toyota Tsusho form Joint Venture
Millennium Steel Service to serve Toyota Motor Manufacturing, Indiana
PRINCETON, Ind. - Automotive supplier Henry Jackson and Toyota Tsusho America, Inc. have formed Millennium Steel Service, LLC, a joint venture which will provide steel ordering, warehousing and just-in-time delivery to Toyota Motor Manufacturing, Indiana and toll warehousing for U.S. integrated steel mills.
The new company is in the process of filing for minority business enterprise certification.
"We are pleased with the development of this relationship between two strong Toyota suppliers," said Tsugio Kadowaki, vice president of purchasing at Toyota Motor Manufacturing North America. "We have an ambitious goal to buy at least five percent of our parts, materials and services from minority- owned suppliers."
Millennium is currently housed in a 76,000 square foot building in Princeton featuring state-of-the-art temperature and humidity control for high quality steel storage. Plans call for a 76,000 square foot addition with steel slitting capability in 2002, allowing Millennium to expand its services to other regional steel users.
Toyota Tsusho America will provide technical assistance from its Georgetown (Ky.) Steel Center, which is recognized as one of the top providers of steel processing services in the industry.
Jackson is president and chief executive officer of Jackson Plastics, Inc., a plastic injection molder with plants Nicholasville, Ky., Danville, Ill., and Morristown, Ind. The Tier I and Tier II company supplies Toyota, Chrysler and other automotive manufacturers.
Toyota Tsusho America is a wholly owned subsidiary of Toyota Tsusho Corp., a trading company within the Toyota Group of companies. Toyota Tsusho America has 21 offices in the U.S., as well as an office in both Mexico and Canada, plus eight subsidiaries and 11 affiliated companies. The company reported revenues of $2 billion in fiscal year 2000.
(June 18, 2001)