FED: Mitsubishi wants $140m from taxpayers to support plant

AAP General News (Australia)
12-12-2001
FED: Mitsubishi wants $140m from taxpayers to support plant

Mitsubishi Motors wants Australian taxpayers to put up $140 million to guarantee the
future of its struggling carmaking plant at Adelaide.

The Sydney Morning Herald says Mitsubishi Motors Australia has confirmed it lodged
a submission with the federal government seeking a multi-million-dollar upgrade of its
South Australian production lines.

The Herald understands Mitsubishi requires about $140 million on top of about $200
million the federal government has already promised.

The extra money is to help the company meet the huge upfront cost of new production
processes to enable Adelaide to produce a replacement model for the aging Magna.

It is also designed to help set up Adelaide as a global production centre, producing
export models for other parts of the sprawling DaimlerChrysler/Mitsubishi empire.

AAP RTV gmw/jh

KEYWORD: MITSUBISHI (SYDNEY)

2001 AAP Information Services Pty Limited (AAP) or its Licensors.