"Mitsubishi Motors will cut auto production at its Thai plants by 50 percent in the first half of this year as the global financial turmoil takes its toll, a representative in Thailand said Thursday. . .The company last year produced 200,000 cars and pick-up trucks at its two Thai plants in central Chonburi province.
In November, General Motors (GM) Thailand said that it would halt assembly for December and most of January and shed 250 staff due to sluggish demand. The Thai arm of the struggling US automaker is now requesting loans from the Thai government and local banks to help fund a new diesel engine plant in Rayong province, GM said in a statement Thursday.
The company announced last year that it was investing 445 million dollars in the new factory which was due to start production in 2010. "Due to the financial crisis ... our projects are delayed, notably our diesel engine plant in Rayong," Steve Carlisle, president of GM's Southeast Asia operations, said in the statement. "This calls for alternative funding solutions that will allow us to keep up with the progress we need to make."
The statement did not say how much the company wanted to borrow."
http://www.bangkokpost.com/breakingnews/13...-at-thai-plants
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Mitsubishi cuts Chonburi auto production by 50%
Started by BORG, Feb 06 2009 01:24 PM
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