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 expected to be completed and closed 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 Oceania region.
"Strengthening our position in Thailand is an essential part of our strategy for Asia and Oceania," said Norio Matsumura, EVP 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 NRP, 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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