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Monday's News - Doninvest, General Motors, Micro-Mechanics
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DONINVEST TO BUILD AUTO PLANT IN NORTH OSSETIA; The Doninvest financial-industrial group may build its third auto assembly plant in Russia - this time, in North Ossetia. This project, estimated to cost $100 million, could make the group one of Russia's leading auto producers, with annual output at 400-450,000 vehicles. But analysts say it still isn't clear which models Doninvest would produce; they describe the North Ossetia project as motivated by social policy considerations.
The Russian Business Monitor (Russia), August 25, 2008 Monday
According to a source close to Doninvest, the group has requested the North Ossetian regional government to allocate it some land for a new auto plant. The group hopes to build a plant with an initial capacity of 50,000 cars (expandable to 100,000 cars), employing around 7,000 people. The project is expected to cost up to $100 million. If the North Ossetian administration is interested in the project, the two sides will sign a memorandum in September 2008 and Doninvest will get a plot of land. The group could then start building its plant within six months
GENERAL MOTORS TO MAKE INDONESIA PRODUCTION BASE IN ASEAN
Asia Pulse, August 25, 2008 Monday 1:55 PM EST
General Motors Corp. will make Indonesia the production base for multi-purpose vehicles (MPV) in this region, an official of the industry ministry said. The largest car maker in the U.S. would put back into operation its factory - which had lain idle in Pondok Ungu, Bekasi, West Java - featuring a capacity of 20,000 units a year, Transport Director Syarif Hidayat said. GM plans to produce three models of MPV - Chevrolet Aveo, Chevrolet Captiva and Chevrolet Estate, Syarif said. He said GM might need to invest up to US$200 million to put back into operation the factory
Micro-Mechanics posts 6.7% profit hike
The Straits Times (Singapore), August 25, 2008 Monday
MICRO-MECHANICS, a maker of precision tools and parts for the semiconductor assembly and test industry, has reported a 6.7 per cent rise in full-year net profit to $8.9 million
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