UPDATE: General Motors To Invest $445 Million In Thai Auto Projects
Wednesday August 13rd, 2008 / 7h56
(Adds number of new jobs, purpose of assembly plant upgrade, background.) BANGKOK -(Dow Jones)- General Motors Corp. (GM) said Wednesday it will invest $445 million to build a diesel engine plant in Thailand and in upgrading an existing assembly facility. The plant, which will produce engines for small pickup trucks, is slated to begin production in 2010 and will have an annual capacity of over 100,000 units, the U.S. auto manufacturer said in a statement. "The 14,492 square meter facility will be GM's first diesel engine plant in Southeast Asia and will provide four-cylinder diesel engines for use by Chevrolet in Thailand and other global markets," the statement said. Thailand is a major regional production center for foreign auto-makers, manufacturing one-ton pickup trucks and sedans for the domestic market and for export. The engine plant will be located next to GM's vehicle assembly facility in Rayong province, which opened in 2000 and has a staff of about 2,000. The assembly plant will be upgraded for production of the new model Chevrolet Colorado small pickup truck. The diesel engine plant will initially employ 340 workers. -By Phisanu Phromchanya, Dow Jones Newswires; 66 2266 0744; phisanu.phromchanya@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=0%2FrQL3N4W%2FiSVov66NFA3w%3D%3D. You can use this link on the day this article is published and the following day.
State Street Global Advisors (15,30%), Capital Research and Management (14,20%), Brandes Investment Partners (11,00%), Tracinda Corporation (9,90%), ...
