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Philippines, June 21, 2016 - (JCN Newswire) - In line with Mitsubishi Motors Philippines Corporation's (MMPC's) participation in the Comprehensive Automotive Resurgence Strategy Program which is also known as the "CARS program", MMPC breaks ground on June 17, 2016 to invest more than Php 2 Billion to construct a stamping shop facility. Including the setting-up of the line for its entry models, fixed investments shall reach about Php 4.3 Billion.
The occasion was attended by distinguished guests from government, Mitsubishi Motors Corporation (MMC) and Sojitz Corporation officials, and our local executives as shown in the above photo. A couple of days ago, the Department of Trade and Industry's Board of Investments had issued a certificate of registration to MMPC as an approved participant.
The construction of the stamping shop will kick-start MMPC's participation into the CARS program and also complies with one of the program's requirements to produce large body parts of a vehicle in lieu of the usual importation. Studies shows that high logistics cost in producing vehicles are brought about by bulk shipment of containers loaded with large completely-knocked-down parts.
The event is deemed to be another significant milestone in the history of MMPC inasmuch as this will be the first time that a metal stamping process will be introduced to the manufacturing process after more than five decades of operations in the Philippines. This added process would create additional job opportunities and transfer of new technology.
Meanwhile, MMC will be extending technical assistance during the construction period. On the other hand, MMPC will ensure that its newly hired manpower undergoes extensive training in Japan. The said shop will be fully operational in the early part of 2018. As such, MMPC can assert that the Mirage and Mirage G4 are proudly Philippine-made products worthy of patronage by our valued customers.
Contact:
Mitsubishi Motors
Public Relations Department
http://www.mitsubishi-motors.com
+81-3-6852-4275
Topic: Press release summary
Source: Mitsubishi Motors
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network
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