Toyota Motor Corporation (ADR) (Public, NYSE:TM) is ready to expand in Indonesia.
Some 400,000 units will be sold this year. Add to that 100,000 more per year by 2010.
Toyota asked the Indonesian government to improve facilities at its Tanjung Priok Port so the car maker can get more vehicles in to the country.
An improvement in Indonesia's economy is expected says
Toyota's chairman.
Sounds like he is blowing smoke into the Indonesian President's ear to get him to improve port facilities to me.
Toyota owns 95% of Indonesia's largest car manufacturer - PT Toyota Astra Motor.
The other 5% is owned by PT Astra International.
Astra's International Director said that Toyota is spending around $300 million between now and the end of next year to expand production of its Daihatsu cars in Indonesia.
Meanwhile...GM, Ford and DaimlerChrysler continue to restructure.
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