Ford invests $450 million in new car plant in Thailand

BANGKOK, June 24 (TNA) - Ford Motor Company is planning to invest Bt15 billion (US$450 million)in Thailand's eastern province of Rayong to build its new sedan factory,according to company president and chief executive, Alan Mulally.

Mr Mulally said the industrial unit was set to be completed in 2012 and will be producing the new 2012 Ford Focus for the Thai market as well as for exports for other markets in Asia-Pacific.

Ford president for Asia Pacific and Africa, Joe Hinrichs, said the production capacity is set at 150,000 units annually for this new factory, and the maximum 85 per cent of cars manufactured will be for export.

He said the investment affirms Ford's long-term commitment to Thailand, the company's important role as an automobile production centre, and its world-class exports.

According to Mr Hinrichs, the decision was due to Thailand's readiness in the auto industry, its logistics system, as well as its basic infrastructure contributing to exports of world-class standard.

Ford's plant in Rayong will also create 11,000 jobs, of which 2,200 positions will be hired directly by Ford Motor Company, and another 8,800 will be outsourced via its supplier and dealer networks.

The company is as well planning to purchase auto spare parts from domestic producers, to be worth Bt26 billion annually (US$800 million). (TNA)