Proton to invest in British firm

Proton to invest in British firm

KUALA LUMPUR (AFP): Malaysia's Proton Bhd Saturday said it was
investing seven million pounds (US$11 million) to build an
engineering facility at British sports car maker, Lotus Group
International's auto plant in Norfolk.

Proton, Malaysia's largest auto maker, which last month
acquired control of the Lotus Group, said the facility it dubbed
the "Project Center" would allow Proton to undertake engineering
design and prototype vehicle-body build at Hethal in Norfolk.

"The foundation stone for the investment at Lotus was laid
today (Saturday) by (Malaysian) Prime Minister Mahathir Mohamad,"
Proton said in a statement released here, just hours ahead of
Mahathir's visit to the Lotus plant.

Proton, and its controlling shareholder, Yahaya Ahmad --
dubbed Malaysia's auto king -- announced on Oct. 30 they had
collectively bought an 80 percent stake in Lotus for 51 million
pounds (US$81.6 million).

Yahaya, who is chairman of Proton, is now also chairman of
Lotus.

Following the acquisition, Proton committed itself to a major
investment program in the financially-strapped Lotus to expand
manufacturing, extend the product range and develop the British
company's engineering facilities.