Yamaha Motor to build new plant in Philippines
Afp, Tokyo
Japan's Yamaha Motor announced plans Thursday to build a new motorcycle factory in the Philippines that will start operating in 2009 to meet rising sales there. It did not disclose financial details but the Nikkei business daily reported the initial investment in the new plant south of Manila will be about three to four billion yen (25-33 million dollars). Yamaha will start operating a first assembling plant in the Philippines next month with a production capacity of 70,000 motorcycles in 2008, it said. Yamaha Motor in May set up a 100 percent-owned subsidiary for production and sales in the Philippines and has hired about 120 employees.
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