Honda to boost Indonesia, Philippines parts output

TOKYO, July 10 Reuters reported that Japan's second-biggest carmaker, Honda Motor Co Ltd, said on Wednesday it would set up a new parts-making unit in Indonesia with fresh investment of some eight billion yen ($67.75 million), creating 900 jobs there.

With production due to start in late 2003, the new subsidiary would build a new plant, which would produce components such as automatic transmissions, continuously variable transmissions (CVT) and engine valves, the company said.

Honda also said it would invest about two billion yen in its Philippines parts unit, Honda Parts Manufacturing Corp, which is due to start producing manual transmissions this month with a production plan of 10,000 units for the first year, to be supplied to Honda plants in Asia