Bangkok--5 Jul--Bangkok Bank
Ford Motor Company today celebrated the official signing of its THB15.5 billion local financing agreement with a group of leading Thai banks at the headquarters of Bangkok Bank. The financing agreement is supporting the development of Ford’s new, state-of-the-art passenger car manufacturing facility in Rayong.
Sourcing of the funds from Bangkok Bank, TISCO Bank and the Export-Import Bank of Thailand (EXIM Thailand) highlights Ford’s ongoing commitment to the local market through a deeper and stronger cooperation with some of Thailand’s leading financial institutions.
“This financing agreement with our Thai finance partners plays a key support role in helping fulfill our One Ford global strategy, and our promise to produce world-class Ford vehicles that people want and need in this fast-growing region,” said Peter Fleet, president of Ford ASEAN.
The new Thailand facility will further expand Ford’s local production and export capabilities to support ambitious growth plans, which includes the introduction of eight all-new One Ford global vehicles in the ASEAN region over the next five years. With an initial capacity of 150,000 units per year, the highly-flexible facility will start building the All-New Ford Focus in 2012 for Thailand and other markets in the Asia-Pacific region.
The new investment and facility will also provide significant benefits to the Thai economy, such as the creation of up to 11,000 new local jobs — including up to 2,200 direct jobs with Ford, and 8,800 indirect jobs through its Thai supplier and dealer networks, and the annual purchase of approximately THB 24 billion of components through the local Thai supply chain.
Ford Motor Company has invested a total of THB 72 billion in Thailand since 1995.
About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 166,000 employees and about 70 plants worldwide, the company’s automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford’s products,
Contact: Ford Thailand
Komsam Singhatong +66 2 686 4643
[email protected]
Chayapak Laisuwan +66 2 686 5912
[email protected]
Bangkok Bank Public Company Limited
Sarasvadee Boondech +66 2 353 5350
[email protected]