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Mitsubishi Motors Invests 21 Billion More in Thailand Base.

Knight Ridder/Tribune Business News

| January 16, 2003 | COPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

By Santan Santivimolnat, Bangkok Post, Thailand Knight Ridder/Tribune Business News

Jan. 16--Mitsubishi Motors Corp (MMC) will invest 21 billion baht to develop a new one-ton pickup truck and expand its Thailand unit into its global light truck production base, says president and chief executive Rolf Eckrodt.

The new investment comes on top of a previous injection of 15 billion baht into MMC Sittipol Co (MSC), the local Mitsubishi manufacturer and distributor, to improve its financial standing in 1999. The holding of the Thai partners -- the Lee-issaranukul and Panchet families -- was reduced to 1 percent from 10 percent.

An executive ...

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