3 Companies Team for $40 Million Auto Steel Blanking Plant in Alabama
August 6, 2021
Three companies with more than a century of experience in the U.S. steel and auto industries are teaming 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.
Beginning later this year, Madison Metal Processing (MPP) will supply steel blanks — the precursor to automotive surface body parts — for up to 300,000 vehicles produced at the Mazda Toyota Manufacturing auto assembly plant in Huntsville. MMP will also provide steel products to other automotive suppliers.