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3 companies team for $40 million auto steel blanking plant in Alabama

MADISON, Alabama – 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.

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Hanwha Cimarron to invest $130 million in new Alabama manufacturing facility

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