Japan's Suzuki Motor says made request to restart Myanmar production
BANGKOK (Reuters) - Japan's Suzuki Motor Corp (7269.T) has submitted a request to the government of Myanmar to restart auto production in the Southeast Asian country, the chairman of the automaker told reporters late on Sunday.
"It will take three to five years to build a new plant," said Suzuki chairman Osamu Suzuki, adding it would like to restart production at its existing plant in Myanmar.
Suzuki said he hoped the government would approve the request by March next year.
Suzuki, Japan's No. 4 automaker, began vehicle production in Myanmar in 1999, but halted operations in 2010. The company manufactured 6,000 vehicles during that period.
Suzuki shares were up 5.5 percent on Monday to their highest since June, 2009, after the company reported strong first-half results on Friday.
(Reporting by Kentaro Sugiyama; Editing by Muralikumar Anantharaman)
- Tweet this
- Share this
- Digg this
- Army officer takes charge in Burkina Faso, ousting general
- UPDATE 1-J.P. Morgan found hackers through breach of corporate event website -media
- 'Plastic' Halloween skulls found in Connecticut are human remains
- J.P. Morgan found hackers through breach of corporate event website - media
- SEBI piles pressure on Sahara to sell overseas hotels
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article