I would like to thank UMC and NMPI
for their accomplishments to date, and we look forward to continuing to build our presence in the Philippines through this new partnership."
This new company is capitalised at USD9.8bn, with Nissan holding a 51% stake in the company, while UMC and NMPI
own 24.5% each.
has seen low-utilization, so the proposed production of LUXGENs there will reverse such trend and cut cost without competing with existing Nissans.
BASF has been a supplier of paint to NMPI
since they started operations in September 1983.
(UMC), which handles the Nissan commercial vehicles, and NMPI for Nissan passenger cars.
Naito further expressed confidence that BOI will favorably act on its application as new car player in the market separate from NMPI and UMC, which has 24.5 percent each share in NPI.
NPI, however, will not be investing in any new assembly facilities because it will be using NMPI and UMC's existing assembly facilities.
Nissan Japan is the controlling majority in NPI with 51 percent stake while Lee and Yulon of Taiwan, investor in NMPI, equally share the remaining 49 percent stake.
Another question was raised on the commitment of NPI to continue assembly operations at the plants of NMPI and Star Motors once these models expire as there was also no assurance that NPI is going to assemble new Nissan models in the country.