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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5299)	7/27/1999 11:32:00 AM
From: Mohan Marette	Read Replies (1) of 12475

Ford says to set up export plant in India MADRAS, India, July 27 (Reuters) - The Indian unit of Ford Motor Co (NYSE:F - news) said on Tuesday it was setting up a plant from which to export cars in kit form next to its Maraimalai Nagar car plant, near the southern Indian city of Madras. Ford India Ltd said in a statement the foundation for the new 70,000 sq ft (65,100 sq metre) plant was laid on Monday. ''The export plant will source auto components locally and assemble kits to export to overseas markets,'' it said. The firm said the exports would include kits of its newest car, the mid-sized sedan named IKON, which is to be launched in the local market in November this year. Ford has invested over 800 million dollars in its Indian operations so far. biz.yahoo.com

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