Thai automotive components maker Fortune Parts Industry (FPI) is building a new parts plant in Equador to tap into the country’s growing automotive sector.
A new facility is scheduled go on stream in the first quarter of 2015 to supply mainly plastic parts to the country’s vehicle manufacturers and the aftermarket.
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The Bangkok-listed company estimates current annual vehicle production in Equador at around 140,000 vehicles, split between Chevrolet, Mazda, Suzuki, Kia and Great Wall Motors.
FPI will own 45% of the shares, with local investors the controlling the remainder. It plans to ship around 30 moulds from Thailand by early next year and will initially make up to 300,000 parts a year.
