Automotive Parts Factory to be Established in Laos

Asahi TEC Automotive Factory
The BMM Group Company Limited and ASAHI TEC Corporation have signed a joint venture agreement to establish an aluminium casting factory to produce automotive spare parts, with the deal concluded in Vientiane on April 23. The signing ceremony was attended by Minister of Commerce and Industry Dr Nam Vinhaket and Minister of Planning and Investment Mr Somdy Duangdy, alongside other concerned officials and representatives of the two companies. The factory will be situated in the Savan-Seno Special Economic Zone in Savannakhet province, with construction expected to begin next month.

The capital required to build the factory is estimated at more than US$50 million, with the BMM Group Company Limited and the ASAHI TEC Corporation of Japan to split the costs at 50 percent each. The name of the joint venture company is BMM ASAHITECCompany Limited (MBA). The plant will manufacture high pressure die cast aluminium automotive parts for larger markets such as Thailand.

The MBA factory has a schedule to initiate the production of automotive parts in December next year after construction of the manufacturing facility is complete. President of the ASAHI TEC Corporation Mr Shoichiro Irimajiri gave a speech at the signing ceremony, explaining that his company has been producing automotive parts in Japan for more than 90 years and exporting them all over the world. In addition it has had a presence in Thailand for 23 years, and now has four manufacturing facilities in the country. Many countries in Asean, especially Thailand, are experiencing rapid growth of their vehicle fleets, with many more cars on the road every day. However, capacity for the expansion of aluminium casting factories in Thailand is quite limited due to the shortage of factory labourers.

The ASAHI TEC Corporation has entered into the joint venture with the BMM Group Company of Laos to establish the first automotive parts manufacturing plant in Laos, which is expected to be up and running by 2016 and employ more than 400 workers, Mr Shoichiro said. “Laos will become a big centre for the production of automotive parts in the future because the country has a lot of mines, especially bauxite mines, with aluminium being the main component in the manufacture of automotive spare parts,” he explained. President of the BMM Group Company Limited Mr Phisith Banyadith said the company has been doing business in many fields, investing in duty free shops, restaurants and real estate, but the manufacture of automotive parts is a new area of investment for the Group. Mr Phisith said that in line with the Lao government’s policy on the growth of industry in the Savan-Seno Special Economic Zone, the company will work in collaboration with the ASAHI TEC Corporation to build the automotive parts factory. In the future, the MBA joint venture will export automotive parts not only to Thailand but also to Vietnam and Malaysia, Mr Phisith added.

Automotive Parts

 

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Vientiane Times, VT Today,
April 24, 2013