|Honda Begins Construction of New Auto Plant in Argentina|
|BUENOS AIRES, Argentina, November 15, 2007–Honda Motor de Argentina S.A. (HAR), a Honda subsidiary in Argentina, held a groundbreaking ceremony to mark the start of construction of its new auto plant in Campana, Buenos Aires province. The groundbreaking ceremony was attended by the guest of honor,Néstor Carlos Kirchner, the president of Argentina, as well as Sho Minekawa, Honda’s chief operating officer for regional operations for South America.
HAR’s new automobile production plant is scheduled to begin operations in the latter half of 2009, with processes to include stamping, welding, painting, and final assembly as well as engine assembly. It will have an annual production capacity of 30,000 units. The total investment related to the establishment of the new plant is expected to be approximately US$100 million. HAR is planning to hire 800 new associates. With continued market growth expected in Argentina, Honda will begin local automobile production to meet expanding market demand. Moreover, the new plant will begin exporting products to other countries in the South America region and play a key role in Honda’s production network in South America along with the Honda auto plant in Brazil.
About Honda Motor de Argentina S.A.
< Motorcycle Production Plant >
Start of Operation : June 2006
Annual Production Capacity : 15,000 units
Production Model : C105Biz
< New Automobile Production Plant – Plan >
Start of Operation : Latter half of 2009
Annual Production Capacity : 30,000 units
Production Model : compact passenger vehicle