|- Attended by President Duterte and Guests -|
TOKYO, Feb 27, 2017 - (JCN Newswire) - Mitsubishi Motors Corporation (MMC) announced that a production launch ceremony for the Mirage G4 compact sedan (local market name; Attrage in some other markets) was held today at the Malacanang Palace, the official residence and workplace of the President of the Philippines, in Manila. The Mirage G4 went into production on February 17 at the vehicle assembly plant of Mitsubishi Motors Philippines Corporation (MMPC)(1). The ceremony was attended by the Philippine President Rodrigo Duterte, representatives from the Philippine government and guests.
At the ceremony, MMC President and CEO Osamu Masako stated, "Under the strong leadership of his Excellency President Duterte, there is big potential of economic growth in the Philippines. It is my conviction that the automotive industry with its broad base, high quality labor force and strong support through the Philippine government's development policy, will contribute to the economic prosperity of the Philippines. Our intension is to contribute to the prosperity of the Philippines."
(1) MMC's sole manufacturer and distributor in that country.
Established: Feb. 1963
Headquarters / Plant: Santa Rosa, Laguna Province (45km southeast of Manila)
Capital: 1.64 billion PHP
Scope of operations: Production and sales of MMC vehicles
Representative: Yoshiaki Kato, President and CEO
Stockholders: MMC 51%, Sojitz Corporation 49%
Annual production capacity: 50,000 units
Site area: 21.4 hectares
Number of employees: Approx. 1,400 employees (as of December 2016)
About Mitsubishi Motors
Mitsubishi Motors Corporation is the fifth largest automaker in Japan and the fifteenth largest in the world by global unit sales. It is part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries.
Throughout its history it has courted alliances with foreign partners, a strategy pioneered by their first president Tomio Kubo to encourage expansion, and continued by his successors. A significant stake was sold to Chrysler Corporation in 1971 which it held for 22 years, while DaimlerChrysler was a controlling shareholder between 2000 and 2005. Long term joint manufacturing and technology licencing deals with the Hyundai Motor Company in South Korea and Proton in Malaysia were also forged, while in Europe the company co-owned the largest automobile manufacturing plant in the Netherlands with Volvo for ten years in the 1990s, before taking sole ownership in 2001.
Public Relations Department
Feb 27, 2017 18:15 HKT/SGT
Source: Mitsubishi Motors
Topic: Press release summary
From the Asia Corporate News Network
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