Chrysler acquires Thai branch

Chrysler acquires Thai branch

BANGKOK (AFP): America's third largest carmaker Chrysler has taken over its Thai subsidiary and set up a new company to control marketing and distribution here, a report said Saturday.

Chrysler president for the Asia-Pacific, Ronald Guardhouse, said the United States parent had upped its stake in Thai Chrysler Automotive Co. from the 30 percent previously held.

The Nation daily said Guardhouse, following a courtesy call on Thai Premier Chuan Leekpai, announced Chrysler had taken a controlling interest but did not give a percentage figure.

He said the new company, Chrysler Sales and Services, would be wholly-owned. Chrysler has six dealers, 10 mega dealers and 40 showrooms in Thailand, the report said.

The U.S.-based firm also said it planned soon to increase the local content of its vehicles manufactured here from the current 54 percent.