Honda to Build New Motorcycle Plant in Peru
<http://www.japancorp.net/?page_num=1> JapanCorp: Honda to Build New Motorcycle Plant in Peru Tokyo, Japan, Nov. 29, 2006 - (JCN Newswire) - Honda del Peru S.A. (HDP) today announced plans to establish a wholly-owned manufacturing subsidiary, Honda Selva del Peru S.A. (HSP), which will begin construction of a new plant in Iquitos, Loreto, in December. HSP will begin production of motorcycles in 2007, in order to meet growing demand in Peru. The motorcycle market in Peru has been growing rapidly since 2004. The total market reached approximately 63,000 units in 2005, a 29% increase from 2004, and is expected to reach 90,000 units in 2006. Moreover, in the near future, the overall market in Peru is expected to reach the level of 200,000 units annually, due to the continuous growth of population and income average. Honda's motorcycle sales in Peru reached approximately 12,000 units in 2005, a 35% increase from 2004. Honda expects to sell approximately 20,000 units in 2006, with further expansion expected in the future. HSP will be built in the Selva (Amazon) area with a capital investment of US$2 million. The plant will have an annual capacity of 25,000 units. The new 6,500 m2 plant building will be located on a 30,000 m2 site and will begin production of the first model, NXR125, in late 2007. The potential capacity is expandable up to 100,000 units in the future with additional expansion of the building and the equipment. Honda will continue to provide attractive products in a timely manner in order to meet market demand and the growing needs of its customers. Honda del Peru S.A. Establishment: January 1974 Began Operations: October 1976 Location: Lima, Peru Capital Investment: US$ 12.52 million Capitalization Ratio: 100% Honda Motor Co., Ltd. Representative: Terumi Shibasaki, President Business: Import and sales of Honda motorcycles, automobiles, and power 71 associates (as of October 2006) Honda Selva del Peru S.A. Establishment September 2006 Production start: The latter half of 2007 Location: Iquitos, Loreto, Peru Capital Investment: US$ 2 million Capitalization Ratio: 100% Honda del Peru S.A. Representative: Terumi Shibasaki, President Business: Production of Honda motorcycles Annual capacity: 25,000 units Employment: 34 associates (as of the latter half of 2007) Production model: NXR125 About Honda Motor Co., Ltd. Honda Motor Co., Ltd. is one of the leading manufacturers of automobiles and power products and the largest manufacture of motorcycles in the world. Honda has always sought to provide genuine satisfaction to people worldwide. The result is more than 120 manufacturing facilities in 30 countries worldwide, producing a wide range of products, including motorcycles, ATVs, generators, marine engines, lawn and garden equipment and automobiles that bring the company into contact with over 19 million customers annually. For more information, please visit http://world.honda.com. For further information, please visit the Honda Motor Co., Ltd. home page at: world.honda.com <http://world.honda.com> Contact Honda Motor Co., Ltd. Media Inquiries corporate_pr@hm.honda.co.jp +81-3-5412-1512 _____ Nov. 29, 2006, 11:47 (JST) Source: Honda Motor Co., Ltd. Honda Motor Co., Ltd. (U.S.: HMC) (FTSE: HNDA) world.honda.com <http://world.honda.com> From the Japan Corporate News Network View <http://www.japancorp.net/company_show.asp?compid=639> Honda Motor Co., Ltd. 's Company Profile On JCN Network www.japancorp.net <http://www.japancorp.net> Topic: Press release summary Sectors: Trade & Commerce, Auto Copyright © 2006 JCN Network <http://www.japancorp.net> . A division of Japan Corporate News Network KK. All rights reserved. If you believe you have received this news in error or would like to be removed from our mailing list please respond here <https://www.japancorp.net/unsubscribe.asp> (https://www.japancorp.net/unsubscribe.asp) and you will be removed from our mailing list. If you have difficulty viewing our News Alerts in HTML format you can change your settings here <https://www.japancorp.net/changeregister.asp> (https://www.japancorp.net/changeregister.asp).