Honda Begins Automobile Operations in Vietnam.Hanoi, Vietnam, Aug 24, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Honda Vietnam Co., Ltd. (HVN HVN Haven (street type) HVN Heavy Virgin Naphtha HVN New Haven, CT, USA - Tweed New Haven (Airport Code) HVN Honda Vietnam ), Honda's Vietnamese subsidiary, announced that it has begun automobile operations in Vietnam with launch of the new Civic, produced at its new automobile plant in the suburbs of Hanoi in Vinh Phuc Province Vĩnh Phúc Province (pronunciation ; Hán Tự: ) is a province in northern Vietnam. . HVN will hold the opening ceremony for the new plant tomorrow, August 25. The new plant has an annual production capacity of 10,000 units. In addition to welding welding, process for joining separate pieces of metal in a continuous metallic bond. Cold-pressure welding is accomplished by the application of high pressure at room temperature; forge welding (forging) is done by means of hammering, with the addition of heat. , painting and assembly of complete vehicles, engine assembly will also be conducted at the plant, a first for an automobile plant in Vietnam. By 2010, the cumulative investment for the automobile operation is expected to reach approximately US$60 million, including the plant and the new sales network. The automobile operation is expected to create direct employment of approximately 250 new associates at HVN, with an expected total of more than 700 new jobs including dealers and parts suppliers. About 250 guests, including the vice ministers of the Planning and Investment Ministry and the Ministry of Industry of Vietnam along with news media, were invited to the new Civic press conference held in Hanoi today, along with Honda President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Takeo Fukui Takeo Fukui (福井 威夫, Takeo Fukui; November 28, 1944- ) is the president and CEO of Honda Motor Co., Ltd.. He was born in Tokyo, Japan. He graduated from Waseda University with a Bachelor's degree in Applied Chemistry. . HVN has begun auto sales Auto Sales The major producers of domestic automobiles report sales monthly. These numbers are seasonally adjusted by the U.S. Department of Commerce and are available to the public one to five business days after the end of each month. with the Civic 4-door sedan Sedan (sədäN`), town (1990 pop. 22,407), Ardennes dept., NE France, on the Meuse River. A noted textile center since the 16th cent., Sedan also has metal and brewing industries. The town became part of French crown lands in 1642. , available with either a 1.8-liter or 2.0-liter engine, both featuring i-VTEC technologies. The Civic is priced in the range of 495 - 605 million Vietnamese Dong(VND VND In currencies, this is the abbreviation for the Vietnamese Dong. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), and HVN plans monthly sales of about 300 units. Honda auto sales will begin at four dealers that have been established in the largest cities (two in Hanoi and two in Ho Chi Minh City Ho Chi Minh City, formerly Saigon, city (1997 pop. 5,250,000), on the right bank of the Saigon River, a tributary of the Dong Nai, Vietnam. ), with a plan for further expansion in line with increased demand. Each dealer has a spacious showroom and service operation. Since beginning motorcycle production in December 1997, HVN has offered excellent convenience and value to the customers in Vietnam through its motorcycle products. Annual sales reached 617,000 units in 2005, a 20% increase from the previous year. Although the automobile market in Vietnam is still in its infancy with about 35,000 units sold in 2005 according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the statistics from VAMA VAMA Vanderbilt Mansion National Historic Site (US National Park Service) VAMA Virginia Apartment Management Association VAMA Virginia Alliance of Methadone Advocates (Vietnam Automobile Manufacturers Association), HVN has constructed the new automobile plant with permission for production and sales from the Government of Vietnam, with a vision for market growth in line with the expected growth of the country's economy. Through the production and sales of the new Civic, which has proven popular in many countries around the world, Honda hopes to offer excellent new value to Vietnamese customers. Takeo Fukui commented, "By deepening the ties cultivated through our motorcycle operations with customers in Vietnam, we were able to enter the automobile market with its high potential, a major step forward for us at Honda. Through our products manufactured at the new automobile plant in Vietnam, we look forward to offering world-class quality and state-of-the-art technologies to our Vietnamese customers." About Honda Vietnam Co., Ltd.
Establishment: March 1996
Capital investment: US$62.90 million
Capitalization ratio: 42% Honda Motor Co., Ltd.
28% Asian Honda Motor Co., Ltd.
30% VEAM Corporation
(Vietnam Engine & Agricultural Machinery Corporation)
Representative: Hiroaki Funami, President
Location: Suburbs of Hanoi, Vinh Phuc Province
Employment : 3,000 associates (as of the end of July 2006)
Motorcycle Operations Production start: December 1997 Production capacity: 860,000 units/year Models produced/sold: Wave, Future NEO, Super Dream, etc. 2005 sales results: 617,000 units (20% increase from the previous year) Dealer network: 260 dealers Automobile Operations Production start: July 2006 Sales start: August 2006 Production capacity: 10,000 units/year Production model: Civic (Sedan) Dealer network: 4 dealers (2 in Hanoi and 2 in Ho Chi Minh City) About Honda Motor Co., Ltd. Honda Motor Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 7267/NYSE: HMC/LSE: HNDA.L) is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com. Source: Honda Motor Co., Ltd. Contact: Honda Motor Co., Ltd. Media Inquiries corporate_pr@hm.honda.co.jp +81-3-5412-1512 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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