For immediate release
22 March 2001
Nissan to Increase Investment in Thailand
Tokyo – Nissan Motor Co Ltd announced today that it reached agreement to increase its investment stake in its Thailand partners, Siam Nissan Automobile Co Ltd (SNA) and Siam Motors & Nissan Co Ltd (SMN). In a deal which is expected to be completed in May, Nissan will increase its holdings in the companies from 25% to 74.9%.
The companies produced 41,058 vehicles in Thailand in 2000 including the Nissan Cefiro, Nissan Sunny and Datsun pickup truck, and sold 30,895 units for 11.8% market share in the market. Nissan will continue to produce vehicles in Thailand and the company is studying plans to use output from the facilities for export to other markets in Asia and the Oceania region.
"Strengthening our position in Thailand is an essential part of our strategy for Asia and Oceania," said Norio Matsumura, EVP (executive vice president) of overseas operations for Nissan Motor Co Ltd. "Thailand is not only an efficient production location, it is also one of the biggest potential automobile markets in ASEAN. Investments such as this are key to ensuring our lasting profitable growth."
As part of the Nissan Revival Plan, Nissan is investing globally to build the foundation for lasting profitable growth. Under the plan, Nissan is reallocating resources to invest in core automotive activities worldwide.
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For further information contact:
David Swerdlow Tel: 01923 899935
Email: David.Swerdlow@nissan.co.uk
28331/220301
