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Toyota Motor Corp. (NYSE: TM) will spend $400 million to expand its assembly plant in Princeton, Indiana, to build 50,000 more of the company’s Highlander SUV. Toyota is responding to the strong value of the yen versus the US dollar, and plans to export some of the vehicles to take advantage of the favorable exchange rate.
The expansion is expected to create about 400 jobs at the plant, as well as more jobs for companies that will supply parts for the vehicles.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
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