Three steel and auto companies plan a joint venture, called Madison Metal Processing, that will operate a new 110,000-square-foot, $40 million factory near Huntsville, Alabama. The project is expected to create 40 new jobs.

The companies collaborating in the venture are Toyota Tsusho America Inc., Southern Mobility Products and SteelSummit Holdings, a subsidiary of Sumitomo Corp. of Americas. Full production is planned for mid-2022, with trial production already under way.

“At MMP, we are committed to providing steel solutions that exceed our customers’ expectations,” said Kirk Lewis, chairman and president of Madison Metal Processing and chairman of Southern Mobility Products.“Together, with our partners and the added benefit of our collective acumen, MMP will set the bar for quality in every steel product we deliver.”

Beginning later this year, Madison Metal Processing 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.

“At Toyota Tsusho, we value meaningful partnerships that get results for our customers and benefit local communities at the same time,” said Toyota Tsusho America group vice president and Metals division head, Shawn O’Connor. As a full-service steel processing service center, MMP will specialize in blanking and warehousing steel products including hot rolled steel, cold rolled steel, and exposed and coated steel products.The company estimates it will process as much as 5,000 tons of steel per month onsite at the new Huntsville facility.

“The Mazda Toyota Manufacturing plant represents a game-changing project for the North Alabama region, and its vast economic impact continues to magnify when world-class suppliers include the area in their growth plans,” said Greg Canfield, secretary of the Alabama Department of Commerce. “With operations like Madison Metal Processing moving in, Huntsville is solidifying its status as the auto industry’s next dynamic production center.”