RAYONG, Thailand, Oct 16 (Reuters) - American Axle & Manufacturing Holdings Inc said on Thursday it planned to invest $40 million to build its first plant in Thailand as part of its drive to expand production in Asia.
The 120,000 square feet (11,150 sq metre) plant, located on the Hemaraj industrial estate in the eastern province of Rayong, will begin production in April 2010, John Bellanti, its executive vice president for worldwide operations, told a news conference.
The Thai plant, the company's third in Asia after those in China and India, will supply all the driveline products it makes to General Motors Corp for 90,000 units of pickup trucks and SUVs a year, Bellanti said.
In August, GM said it would invest $445 million in a new plant in Thailand and in upgrading its existing vehicle assembly operations, expected to start production in 2010.
Detroit-based Axle has restructured its business at home, where it is battling a steep drop in sales of trucks and SUVs for which it produces parts, and is now focusing on overseas markets where there is potential for growth, Bellanti said.
The new Thai plant is expected to create about 230 engineering and manufacturing jobs, the company said.
($= 34.29 Baht)
(Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Alan Raybould) Keywords: AMERICANAXLE/THAILAND tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
The 120,000 square feet (11,150 sq metre) plant, located on the Hemaraj industrial estate in the eastern province of Rayong, will begin production in April 2010, John Bellanti, its executive vice president for worldwide operations, told a news conference.
The Thai plant, the company's third in Asia after those in China and India, will supply all the driveline products it makes to General Motors Corp for 90,000 units of pickup trucks and SUVs a year, Bellanti said.
In August, GM said it would invest $445 million in a new plant in Thailand and in upgrading its existing vehicle assembly operations, expected to start production in 2010.
Detroit-based Axle has restructured its business at home, where it is battling a steep drop in sales of trucks and SUVs for which it produces parts, and is now focusing on overseas markets where there is potential for growth, Bellanti said.
The new Thai plant is expected to create about 230 engineering and manufacturing jobs, the company said.
($= 34.29 Baht)
(Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Alan Raybould) Keywords: AMERICANAXLE/THAILAND tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
