A Mitsubishi Motors Corp. subsidiary in Thailand may close one of its plants due to sagging demand, MMC said Thursday.
MMC Sittipol Co. produces pickup trucks and large trucks for the Thai market in Lad Krabang. However, production of large trucks has been halted following the liquidity crisis, the firm said. On Thursday, MMC disclosed a plan to shift production of pickup trucks at Lad Krabang to another plant in Laem Chabang in March, the firm said.
By the middle of the year the firm hopes to decide whether it will close the Lad Krabang plant, the automaker said. The firm's auto sales in Thailand dropped from 73,700 units in 1996 to 28,100 in 1997. It is estimating that sales may slide to as low as 15,000 this year.