PARIS, July 2 (ots/PRNewswire) - - To invest more than 10 billion
baht to boost model lineup, production capacity
Nissan Motor Co., Ltd., today unveiled a business plan for
Thailand under which it will invest more than 10 billion baht ($250
million)(1) in Siam Nissan Automobile Co., Ltd., over the next five
years to broaden its vehicle lineup and production capacity. The new
investment is aimed at turning Siam Nissan into a fully competitive,
world-class automaker and positioning Nissan for strong profitable
growth in the ASEAN region as a tier-one brand.
As a result of this investment, the number of Siam Nissan's
employees is expected to at least double by 2008 from about 2,000 at
"Thailand offers us great potential for growth and given the
right investment conditions, it could also present us with a strong
base for exports to global markets, including ASEAN," said Kosaku
Hosokawa, president of Siam Nissan.
As part of the new business plan, Nissan will introduce 10 new
models to the Thai market by 2008, including the Teana luxury sedan
and the X-TRAIL sport utility vehicle. The Teana will go on sale
later this July, while the X-TRAIL will go on sale in 2005. Siam
Nissan's current lineup consists of six models, including the locally
assembled Frontier pickup truck and the Cefiro and Sunny passenger
cars. With the new lineup, Siam Nissan's sales are forecast to triple
to 130,000 units by 2008.
Under the new business plan, annual production capacity at Siam
Nissan's vehicle manufacturing plant, located at Kilometer 21, east
of Bangkok, will rise to about 200,000 units by 2008, from 130,000
today. In 2003, the plant produced 40,181 units. All of the plant's
production facilities will be upgraded, including its body shop,
paint shop and trim and chassis operations.
Production volume at Siam Nissan's engine plant will expand to
250,000 units by 2008 from 42,000 units last year. The plant produces
five engine families, including the VQ gasoline and the ZD diesel
The new investment will be an important element of Nissan's
profitable growth momentum under its new three-year business plan,
NISSAN Value-Up. Under that plan, which will go into effect in the
next fiscal year starting April 2005, Nissan aims to reach annual
global sales of 4.2 million units, up from a little more than 3
million units in fiscal year 2003.
On April 5, Nissan raised its stakes in Siam Nissan and Siam
Motors & Nissan Co., Ltd., its assembler, to 75% from 25%. Nissan
paid a total of 7.64 billion baht (about $190 million) for the
additional stakes, bringing the companies under Nissan's management
Last year, total industry sales in Thailand totaled 533,176
units, up 30% compared with the previous year and almost quadruple
compared with 1998 when sales plunged to their lowest point due the
Asian financial crisis. Siam Nissan's sales in 2003 totaled 43,557,
down 1.8%, giving it a market share of 8.2%.
@@start.t1@@ (1) Amount in dollars is translated for the convenience of the reader
only at the rate of 40 baht/dollar.
Photos of Nissan's models, including the Teana and the X-TRAIL
can be downloaded for free from Nissan's global press page at:
ots Originaltext: Nissan Europe
Im Internet recherchierbar: http://www.newsaktuell.ch
For more information, please contact: Tokyo, Mia Nielsen, Nissan
Motor Co., Ltd., Tel: +81-(0)3-5565-2141; Bangkok, Jarumon
Chayasarisd, Siam Nissan Motors Co., Ltd., Tel.: +662-2-740-0565,