Ford to invest $100m in RP

Mon, 13 Apr 1998, 00:00 WIB | Source: REUTERS

WASHINGTON (Reuters): Ford Motor Co. said on Friday it would
invest US$100 million in a vehicle assembly plant and complex
near Manila, showing its faith in the Philippine economy.

The plant will produce the Ford Ranger pickup truck, the Laser
passenger car and the Econovan commercial truck, the company
said.

"Under the leadership of President (Fidel) Ramos, the
Philippines has exhibited the political and economic stability
that gives us the confidence to make this investment," Wayne
Booker, Ford vice chairman, told a business group honoring Ramos,
who was visiting Washington.

Ford said ground breaking at the plant would take place this
month in Santa Rosa, south of Manila. The plant will open in the
fall of 1999.

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