Honda to Build Second Motorcycle Plant in Vietnam.
The second plant will be located adjacent to the existing motorcycle plant in Vinh Phuc Province, the suburbs of Hanoi. With total investment of approximately US$65 million, the new plant is scheduled to begin mass production in the latter half of 2008, with initial annual production capacity of 500,000 units and employment of approximately 1,400 associates. Combined with the existing plant's one million units in annual production capacity, Honda's annual motorcycle production capacity in Vietnam will be expanded to 1.5 million units.
Supported by the country's strong economy, the motorcycle market in Vietnam last year reached more than 2.3 million units (+31% vs. 2005) and is expected to continue growing steadily in the future. Ever since it began motorcycle production in 1997, HVN has been trying to increase customers' joy in Vietnam through its commitment to provide convenient and attractive products. In 2006, HVN achieved all-time record sales of 851,000 units (up 27% vs. 2005). HVN's cumulative motorcycle production reached 3 million units in September 2006. In April 2007, HVN also started production and sales of the Future Neo FI, with environmentally responsible PGM-FI (Programmed fuel injection) for the first time in Vietnam.
With increased production capacity, Honda will continue to make an effort to be a company that society wants to exist in Vietnam by enhancing traffic safety promotion activity in addition to continued aggressive introduction of products with advanced environmental and safety technology.
I. Existing Plant - Location: Vinh Phuc Province Employment: Approx. 3,600 associates (as of June, 2007) Production Capacity: 1 million units annually Lot Site: 200,000 m2 Production Models: Wave, Future Neo, etc. II. New Second Plant - Location: Vinh Phuc Province Employment: Approximately 1,400 associates Production Capacity: 500,000 units annually Lot Site: 280,000 m2 Production Models: Mainly scooter-types
About Honda Vietnam Co., Ltd. (HVN)
Establishment: March 1996 Capital: US$62.9 million Capitalization ratio: 42% Honda Motor Co., Ltd. 28% Asian Honda Motor Co., Ltd. 30% VEAM Corporation (Vietnam Engine & Agricultural Machinery Corporation) Representative: President: Koji Onishi Business Areas: Production and sales of motorcycles & automobiles
About Honda Motor Co., Ltd.
Honda Motor Co., Ltd. (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.
Honda Motor Co., Ltd. Corporate Communications Division firstname.lastname@example.org Telephone: +81-(0)3-5412-1512 Facsimile: +81-(0)3-5412-1545
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|Date:||Jul 18, 2007|
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