Asian Honda Motor, a unit of Honda Motor Ltd, announced Tuesday (12/9/00) that it plans to amalgamate its Thai auto production and distribution divisions into a single company set to be established in November, says Associated Press (12/9/00).

The move - yet to be formally approved by Thailand's Board of Investment - would see the creation of Honda Automobile (Thailand), says the report citing Asia Honda.

Honda Motor Co. will own 75.9 per cent of the new company, Asian Honda Motor will hold a 15.4 per cent stake, while 4.1 per cent will be held by Thailand's Crown Property Bureau and 4.6 per cent will be held by a Thai businessman.

All assets, staff and operations of both Honda Cars Manufacturing (Thailand) and Honda Cars (Thailand) will be taken over by this new company.