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    8015   JP3635000007

TOYOTA TSUSHO CORPORATION

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Maruti Suzuki and Toyota Tsusho Group's Vehicle Scrapping and Recycling unit commences operations in India

11/24/2021 | 10:09am EST

Noida/New Delhi: Hon'ble Union Minister of Road Transport and Highways, Shri Nitin Gadkari today inaugurated Maruti Suzuki Toyotsu India Private Limited (MSTI), a Government approved ELV scrapping and recycling unit.

* ~Inaugurated by Hon'ble Union Minister of Road Transport and Highways~

* Scientific and environment friendly, Government approved End-of-Life Vehicles (ELVs) scrapping and recycling unit

* Maruti Suzuki Toyotsu India Private Limited (MSTI) is a Joint Venture (JV) between Maruti Suzuki and Toyota Tsusho group

* A zero-discharge facility, MSTI follows globally recognized best practices to maximize scrap recovery

* Offers hassle free, end-to-end solution for customers to scrap ELVs in a safe and environment friendly way

Present on the occasion were His Excellency Mr. Satoshi Suzuki, Ambassador Extraordinary and Plenipotentiary, Embassy of Japan, India. Dignitaries from the Ministry of Road Transport & Highways and Delhi and Uttar Pradesh government graced the occasion.

Vehicle Scrapping and Recycling Unit at Noida

As a step towards circular economy and with an aim to promote organized, transparent and environment friendly dismantling of End-of-Life Vehicles (ELVs), Maruti Suzuki and Toyota Tsusho Group have joined hands to set up MSTI.

The 10,993 sq m facility has a capacity to scrap and recycle over 24,000 ELVs annually. Built with an investment of over INR 44 crores, the facility uses modern and technologically advanced machines to dismantle and scrap ELVs in a scientific manner. Aligning with the vision of Atmanirbhar Bharat, all the equipment being used at the facility is manufactured in India.

MSTI follows globally approved quality and environment standards. These include complete solid and liquid waste management ensuring zero discharge of liquid and gases from the ELVs.

Inaugurating the facility, Shri Nitin Gadkari, Hon'ble Minister of Road Transport and Highways, said, 'Ministry of Road Transport and Highways has launched the visionary National Automobile Scrappage Policy aimed at creating an ecosystem for phasing out unfit and polluting vehicles from the Indian roads. To meet this objective, we need state-of-the-art scrapping and recycling units. I would like to congratulate Maruti Suzuki and Toyota Tsusho Group for setting up this modern facility as per global standards. I would request Maruti and other stakeholders to build and create an ecosystem of similar scrapping and recycling units across the country. This would make the roads safer, air cleaner and the raw material cheaper for their cars.'

At the inauguration, Mr. Kenichi Ayukawa, Chairman, MSTI and Managing Director & CEO, Maruti Suzuki India Limited, said, 'Hon'ble Minister of Road Transport & Highways, Mr. Nitin Gadkari has been a champion for cleaner, greener and safer mobility

ecosystem in the country. We are grateful to him for inaugurating our new facility today. At Maruti Suzuki, we strongly believe in creating value through efficient resource optimization and conservation. Our business processes and products are based on the principles of fewer, smaller, lighter, neater and shorter.

Mr. Ayukawa added, 'Till now there was no scientific, clean and healthy way to dispose a car at its end-of-life. MSTI uses global process methodology to address this gap. This is just the beginning. With our partners we are committed to set up more such modern ELV scrap and recycle centers in India.'

On the occasion, Mr. Naoji Saito, CEO for Metal Division of Toyota Tsusho Corporation said, 'Hon'ble Minister of Road Transport & Highways, Mr. Nitin Gadkari has always been a strong proponent of cleaner society in the country. We are grateful to him for inaugurating our first environment-friendly End-of-Life Vehicle (ELV) dismantling & recycling yard in India. The Toyota Tsusho group has engaged in the ELV recycling business since 1970 in Japan. Recently we have run the environmental friendly ELV dismantling & recycling business in several major countries of the world. Our experience of over fifty years in Japan helped in these projects. Now we will achieve the best practice for ELV recycling and contribute to the circular economy in India by combining our experience and equipment made in India.'

About Maruti Suzuki Toyotsu India Private Limited

Maruti Suzuki Toyotsu India Private Limited (MSTI) was established on 22nd October 2019 as a 50:50 joint venture between Maruti Suzuki India Limited (MSIL) and Toyota Tsusho Group (Toyota Tsusho Corporation (TTC) & Toyota Tsusho India Private Limited (TTIPL)). Headquartered in New Delhi, MSTI has set up its first Vehicle Scrapping and Recycling Unit in Noida. MSTI shall set up more such facilities across the country, based on the demand.

https://flic.kr/s/aHsmXaadWA

Issued by:

Corporate Communications

Maruti Suzuki India Limited

1, Nelson Mandela Road, Vasant Kunj, New Delhi

Ph: 91-11-4678 1000 Email: corp.comm@maruti.co.in

Twitter: @Maruti_Corp

(C) 2021 Electronic News Publishing, source ENP Newswire

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ChangeLast1st jan.
MARUTI SUZUKI INDIA LTD 1.91% 8189.6 Delayed Quote.8.21%
SUZUKI MOTOR CORPORATION 0.37% 4668 Delayed Quote.5.01%
TOYOTA TSUSHO CORPORATION -2.62% 4825 Delayed Quote.-6.51%
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Sales 2022 7 363 B 64 735 M 64 735 M
Net income 2022 200 B 1 760 M 1 760 M
Net Debt 2022 995 B 8 751 M 8 751 M
P/E ratio 2022 8,72x
Yield 2022 2,95%
Capitalization 1 743 B 15 290 M 15 328 M
EV / Sales 2022 0,37x
EV / Sales 2023 0,34x
Nbr of Employees 64 402
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