Honda: No plan to leave Thailand

 A press conference took place today following rumours that Honda is moving its business from Thailand to Indonesia. Honda recently announced an investment of US$337 million in a second plant in Indonesia. The announcement followed the flood which forced the company to suspend production at Ayutthaya's plant since October, 2011. The plant is scheduled for recommencement later this month.
 Honda Automobile (Thailand)'s executives insisted that the expansion of its existing production capacity in Indonesia is part of the company's long-term development strategy for that market.  The plan for the Indonesian expansion was in place well before the flood that affected Honda's manufacturing plant in Thailand during the second half of 2011.
 "Honda has put considerable effort into restoring its Ayutthaya manufacturing plant to resume production. The company is now ready to start up the production line and continue its commitment to growing with Thai society," Honda said in a statement.
 It has already invited the media to a press conference and Open House Ceremony with honourable guest, Prime Minister Yingluck Shinawatra; Honda's Global President & CEO, Takanobu Ito; and Hiroshi Kobayashi, President of Honda Automobile (Thailand).
 Honda's new production plant outside Jakarta will address Indonesia's booming demand for small automobiles. The new plant, which will be built beside Honda's existing automobile plant that already produces Jazz, CR-V and Freed models, will produce an Indonesian version of Honda Brio for the local market. The new plant will be operated by PT Honda Prospect Motor (HPM), a joint venture between Honda Motor Co Ltd (51 per cent) and PT Prospect Motor (49 per cent) that was formed in March 1999.