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TOKYO: Japan’s Yamaha Motor announced plans
Thursday to build a new motorcycle factory in the Philippines that
will start operating in 2009 to meet rising sales there.
It did not disclose financial
details but the Nikkei business daily reported the initial
investment in the new plant south of Manila will be about three to
four billion yen ($25 million to $33 million).
Yamaha will start operating a
first assembly plant in the Philippines next month with a production
capacity of 70,000 motorcycles in 2008, it said.
Yamaha Motor in May set up a
100-percent owned subsidiary for production and sales in the
Philippines and has hired about 120 employees.
The first assembly plant will be
closed after the new plant starts operating in 2009, said Yamaha
Motor spokesman Koichi Shinmura.
“The new plant will be
certainly larger than the current assembly plant, as the market in
the Philippines is likely to show steady growth,” he said.
--AFP
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