Restructuring of Automobile Production and Sales Company in the Philippines
Mar. 31, 2014
Mitsubishi Motors Philippines Corporation (MMPC), an automobile production and sales joint venture of Sojitz Corporation and Mitsubishi Motors Corporation, acquired a factory site owned by Ford Motor Company (Philippines), Inc. in Laguna, Laguna Province and will transfer its current headquarter and factory (located in Cainta, Rizal Province) to the new site. Vehicle production at the new site will begin in stages starting in January 2015.
Since Sojitz started the Mitsubishi automobile assembly and sales business in the Philippines in 1972, it has operated the production and sales of Mitsubishi vehicles and established Mitsubishi brand in the Philippines in cooperation with Mitsubishi Motors. MMPC became the first automobile production company in the Philippines to achieve a cumulative production volume of 500,000 units and is continuously growing along with the Philippine automobile industry.
Relocation of headquarter and factory this time is a part of MMPC’s restructuring plan of its production capabilities in preparation for its future growth in the promising Philippine market.
With the long history of operation rooted in the Philippine market, MMPC has successfully attained high market share in the country. MMPC plans to expand its presence in the Philippines by further strengthening its business base in the country.
Overview of Mitsubishi Motors Philippines Corporation (MMPC)
|Head office & plant||Cainta, Rizal Province, Philippines|
|Capital||1,640 million pesos|
|Main business activities||Production and sale of Mitsubishi vehicles|
|Representative||Hikosaburo Shibata, President and CEO|
|Shareholders||Mitsubishi Motors: 51%, Sojitz 49%|
|Production capacity||30,000 vehicles/year|
|Product lineup||Philippine production:Lancer EX, Adventure, L300
Thai production:Mirage, Mirage G4 (Attrage)
Montero Sport (Pajero Sport), L200, Strada (Triton)
Japanese production:ASX (Outlander Sport)
|2013 sales & share||42,360 vehicles, 20.5%|