Ford expanding Asia-Pacific operations

Jim Padilla (pictured at right), president and COO of Ford Motor Co., announced today that the company plans to invest $1 billion in products and facilities in the Asia-Pacific region to solidify its position in fast-growing markets in China, India and Thailand. The company has already invested $2 billion in the region in the last five years.
Padilla expects Ford to be more successful in Asia than in North America.

In Thailand to celebrate the success of the Ford-Mazda joint venture to produce 1-ton trucks, Padilla pointed out that truck exports from the Thailand operation now reach 130 markets worldwide, with a $500 million upgrade to the facility expected to increase capacity to 200,000 units a year by 2008, by which time the venture will employ 4,500.

[Sources: Ford, Reuters]