Honda said on Tuesday it is spending about JPY3.8bn yen ($US32.7m) to build an automotive body parts plant in Thailand to keep pace with strong demand especially in Asia.
Go deeper with GlobalData
Asia Parts Manufacturing, a new Honda subsidiary located in Ayutthaya province, will have an annual output capacity of 550,000 body parts and start production in June 2007, the company said, according to Reuters. It wants to book JPY1.5bn in annual sales in three years.
Honda spokeswoman Yuriko Yabe told the news agency the company wants to eventually stop getting spare parts from its automobile factories and suppliers throughout Asia-Oceania and consolidate production into one location, although this may take years.
Separately, Kyodo News reported the new plant would employ about 200.
It would also export parts to Europe and Japan for global models such as the CR-V and Jazz.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
