Nissan
has started construction of its new $930 million vehicle assembly plant located
at Canton, about 15 miles north of Jackson, Mississippi.
The plant, described by Nissan president Carlos Ghosn as "our first significant
step towards building profitable growth under the Nissan Revival Plan",
will produce new full-size pickup and SUV models and the next generation minivan
from mid-2003.
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Employing 4,000, the plant will produce about 250,000 vehicles a year.
"Building the right products in the right markets is a basic ingredient
to building a foundation for solid, profitable growth," Ghosn said at the
opening ceremony.
He added that the Canton plant’s products are in line with Nissan’s objective
of offering vehicles in all major U.S. market segments.
"This investment allows us to expand our lineup in North America and grow
our business by entering in markets where we do not currently compete,"
he said.
The three vehicles produced at Canton will come after a plan to introduce 22
all-new Nissan and Infiniti vehicles worldwide between April 1, 2000, and March
31,2003 is completed. Ten of the new Nissan models are destined for the U.S.
Once Canton is added to production facilities in Smyrna, Tennessee and Aguascalientes
and Cuernavaca, Mexico, Nissan’s North American vehicle production capacity
will be more than 1 million vehicles per year.
Nissan will announce financial results for the year ended March 31, 2001 next
month. It has forecast a net profit of about $2.3 billion compared with a net
loss of $6.4 billion for fiscal year 2000.
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