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Mazda studies moving production offshore
Mazda studies moving production offshore
Posted Thursday, Oct 22, 2009, 2:50 pm in Employee News
Mazda Motor Corp., which builds the majority of its vehicles in Japan, is studying moving more of its manufacturing base offshore to better hedge against currency swings, its top executive said, the Automotive News reported.
With the dollar continuing to weaken against the yen, Mazda’s fortunes in dollar-denominated markets are hurting. Moving production out of Japan would be one way to insulate against that, said Mazda CEO Takashi Yamanouchi, the trade paper said. No decision to move production has been made yet. Yamanouchi was hesitant to give further details, citing the “quiet period” before Mazda’s $1.1 billion public stock offering. The money to be raised has been earmarked toward hybrid and fuel economy research and development, the article said.
While moving production offshore is one future option, Mazda’s first priority will be to streamline its domestic cost structure, Yamanouchi said the story. He downplayed the possibility of adding a new factory in the United States beyond the plant in Flat Rock, Mich., it currently shares with Ford Motor Co., the article said. (Automotive News)
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Rick
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