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NUMMI MAY OPERATE INDEFINITELY, FTC RULES

 DETROIT, Nov. 1 /PRNewswire/ -- New United Motor Manufacturing, Inc., (NUMMI), a joint venture of General Motors (NYSE: GM) and Toyota, will continue operating indefinitely as a result of a Federal Trade Commission (FTC) ruling today.
 Under the original FTC order, NUMMI was scheduled to cease operations in December 1996. In June, GM and Toyota agreed to continue the NUMMI partnership beyond 1996 and petition the FTC to terminate the order.
 Tatsuro Toyoda, Toyota's president, said that "Toyota deeply appreciates the FTC's decision. This is good news not only for us, but also the hardworking men and women of NUMMI as well as the local economy. We express our sincere appreciation to those who supported us in our efforts to continue NUMMI's operation beyond 1996."
 John F. Smith, Jr., General Motors' chief executive officer and president, expressed his pleasure with the vacation of the order. "GM's involvement with NUMMI has been a positive experience for both organizations. The termination of this order allows that relationship to continue to the benefit of all involved."
 NUMMI produces the Chevrolet Geo Prizm, the Toyota Corolla and the Toyota compact pickup trucks at its Fremont, Calif., operations. More than 4,300 people are employed at the plant. Through the operation more than $400 million of cars and parts will be exported this year and NUMMI has an annual domestic procurement and payroll of more than $1.4 billion.
 -0- 11/1/93
 /CONTACT: Kari Hulsey of General Motors, 313-986-6126; Michael Damer of NUMMI, 510-498-5763; or Eiji Hirabayashi of Toyota, 81-3-3817-9931/
 (GM TOYO)


CO: New United Motor Manufacturing, Inc.; General Motors; Toyota ST: Michigan IN: AUT SU:

LD-JG -- DE030 -- 9383 11/01/93 18:20 EST
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Publication:PR Newswire
Date:Nov 1, 1993
Words:280
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