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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era

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To: porcupine --''''> who wrote (1032)	12/8/1998 12:12:00 AM
From: porcupine --''''>	Read Replies (2) of 1722

GM plans to make Opel Zafiras at Thai plant RAYONG, Thailand, Nov 30 (Reuters) - General Motors (Thailand) said on Monday it plans to make 40,000 new Opel "Zafira" cars per year at its new plant in eastern Rayong for sale in Southeast Asia. The first exports were expected by early 2000, the company's president Ronald Frizell told a news conference. GM has delayed the opening of its 20 billion baht ($555 million) Rayong plant to January 2000. "GM's strategy is to attain stability first in Thailand and Southeast Asia and when the region recovers from the economic recession we want to take a market share of not less than 10 percent in this region," he said. "In next 10 years, Southeast Asia will be the most active and fast growing car market in the world and GM wants to take a share of this market," he added. GM would make the Zafiras with locally-made auto parts as agreed with the Thai authorities. It had signed contracts with 40 local auto parts manufacturers to supply GM Thailand with parts to build its cars, Frizell said. ($1=36 baht)

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