In a joint statement issued on Wednesday, they said work on plant was expected to begin in September this year. When completed it would have a production capacity of 140,000 units a year.
"The new engine manufacturing company will see Daihatsu holding 51%, while Perodua the remaining 49% with a paid-up capital of RM165mil," it said.
Perodua president and CEO Datuk Aminar Rashid Salleh said: "This new investment is part and parcel of our transformation plan to become a globally competitive company in terms of quality, cost and delivery and is an important component to enhance the power train eco-system in the automotive industry."
Daihatsu said it was working on structural transformation of its local operations in Malaysia ahead of intensifying global competition in the future. It viewed Malaysia as its key base for its overseas business.
"The entire Daihatsu Group will powerfully push forward with structural transformation concerning manufacturing operations for vehicles, including automatic transmission and engines, in order to speed up the strengthening of international competitiveness," it added.
The new engine plant, which will employ an initial 150 new workers, will cover 142,000 square metres, a plant area of 19,000 square metres.
Its core businesses include the manufacturing and sale of automotive engines as well as the development, design, manufacturing of engine parts and equipment.
This is the second investment Daihatsu has made in Sendayan, the first is the construction of an Electronic Automatic Transmission plant, named Akashi Kikai Industry Malaysia Sdn Bhd, which began operations in March this year. Perodua has 10% equity in this venture. -- The Star Online
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