▲ Up
 
22:16 05-05-2016
MAIN АКИpress CA-News
About us On-line subscription
KazakhstanTajikistanUzbekistanKyrgyzstanTurkmenistanMongoliaWorld
POLITICSBUSINESSINCIDENTSSOCIETYCULTURESPORTANALYSISSCIENCE
Mitsubishi Motors buys Ford Philippine auto plant

Bishkek (AKIpress) - Mitsubishi-Motors Japanese automaker Mitsubishi Motors Corp. said Monday it is buying Ford's shuttered plant in the Philippines to grow in market where car ownership is on the rise, The New Zealand Herald reported.

Mitsubishi Motors said it was acquiring the plant in Laguna, south of Manila, from Ford Motor Co. to boost production and sales. Ford closed that plant in 2012. The Tokyo-based automaker did not give a price.

Mitsubishi controls more than a fifth of the Philippine market, where Japanese rival Toyota Motor Corp. has top market share. Various automakers have their eyes on the nation because car ownership is expected to grow.

The Philippine economy grew 7.2% last year, the second fastest in Asia after China.

Mitsubishi produces the Adventure minivan, L300 truck and Lancer sedan in the Philippines at a smaller plant it runs near Manila. The models it will produce at the new plant weren't disclosed.


Twitterfacebookprint
12:44 31.03.2014
LATEST NEWS
18:16 India's Reliance Power bags $1.3 bn project in Bangladesh16:39 Centerra Gold Inc. not confident discussions with Kyrgyz government to result in mutually acceptable solution for Kumtor project16:26 Centerra's proxy advisory firms recommend shareholders vote for all nominees for Director to Board16:23 President of Afghanistan to visit Dushanbe16:15 Kumtor Gold Company explains leave of its top managers with planned vacations16:11 Centerra Gold Inc. confirms temporary suspension of trading in its securities16:01 Ambassador of Tajikistan presents credentials to President of Armenia15:54 Tajikistan, Turkey review cooperation in trade, law enforcement15:49 Tajikistan, China discuss bilateral ties15:42 Almaty court imprisons man for unsanctioned rally in protest against land code15:26 Kazakhstan seeks close political ties with Poland – President15:15 Kazakhstan achieves 3-fold reduction of infant mortality rate since 199114:59 Government orders establishment of lab to analyze quality of Kara-Keche coal delivered to Bishkek CHPP14:53 Partnership in international child adoption with Kyrgyzstan among priorities for U.S. - Ambassador14:47 Kyrgyz government to pay over $200 to WWII, prisoners of concentration camps each14:37 Kazakhstan not to hold Victory Day Parade14:35 Landslide in Uzbekistan kills 514:29 Kyrgyzstan, Kuwait vow to bolster ties in youth, sports14:12 Kyrgyzstani among detained Central Asians in Moscow over terror attack plot14:01 Uzbekistan increases fruit exports to Russia
Astana
+15° C
Ashgabat
+34° C
Bishkek
+20° C
Dushanbe
+25° C
Tashkent
+26° C
Ulaanbaatar
+1° C
exchange rates
 
78.21
68.26
10.55
1.06
381.79
332.51
51.15
5.01
6.85
6.26
1.01
0.12
3286.53
2888.39
446.81
42.81
4.02
3.50
0.54
0.05

© AKIpress News Agency - 2001-2016. All rights reserved
Republication of any material is prohibited without a written agreement with AKIpress News Agency. Any citation must be accompanied by a hyperlink to www.akipress.com.
Our address:
Moskovskaya str. 189, Bishkek, the Kyrgyz Republic
e-mail: english@akipress.org, akipressenglish@gmail.com;
Tel/Fax: +996(312)90-07-75