Things getting worse for Mitsubishi

[FPV+fteT3]

http://finance.ninemsn.com.au/newsbu...l-for-one-euro

Japan's Mitsubishi Motors is willing to sell its Netherlands factory "for one euro" if the buyer is prepared to keep employing the 1,500 workers there, the company president says

"If the payroll of about 1,500 factory workers can be maintained, we may as well sell the assets for one euro," Osamu Masuko said, according to a company spokesman.

Japan's fourth largest automaker said on Monday it will stop making cars at the plant in Born by the end of 2012, effectively ending its sole European manufacturing operation.

Mitsubishi blamed a difficult operating environment in the debt-hit continent, but Dutch Economics Minister Maxime Verhagen told a radio station the decision was "an unbelievable blow".

Dutch trade unions called the plan "a disaster" for the southern Netherlands, which they said was already hit hard by unemployment.

Mitsubishi produces the Colt subcompact and the Outlander sports utility models at the wholly-owned unit, which used to be a joint venture with Sweden's Volvo

Anyone want to buy a car manufacturing plant?
Shades of what happend to Mitsubishi in Australia.

[Fairlane]

There was truly an absolute bucketload of overcapacity in the world car manufacturing plants. That and more and more cars for Asian, Russian and Middle Eastern markets are made locally. Makes sense for Mitsubishi to get out of Europe.

Europeans can be as bad a badge snobs as anyone else. All of that and the fact that the Colt was pretty rubbish.

[Polyal]

Its just a reflection of a general crap economic outlook. If it wasnt for mining we would be royal stuffed. I dont know many industries that are actually doing ok other than people digging stuff out of the ground.

[Rodge]

Originally Posted by Polyal

Its just a reflection of a general crap economic outlook. If it wasnt for mining we would be royal stuffed. I dont know many industries that are actually doing ok other than people digging stuff out of the ground.

Tell that to Apple shareholders , but in general I agree with the point you've made. Seriously, some of Mitsuibishi's products are very tired, Colt, Lancer, Outlander readily spring to mind. They're offering a ten year driveline warranty on new cars in N.Z., not sure if they're doing that in Aus ?, which is something no other manufacturer to the best of my knowledge is doing BUT doesn't that beg the question of whether they will be around for ten years to honour that warranty ?

[lockieoc]

Originally Posted by Rodge

Tell that to Apple shareholders , but in general I agree with the point you've made. Seriously, some of Mitsuibishi's products are very tired, Colt, Lancer, Outlander readily spring to mind. They're offering a ten year driveline warranty on new cars in N.Z., not sure if they're doing that in Aus ?, which is something no other manufacturer to the best of my knowledge is doing BUT doesn't that beg the question of whether they will be around for ten years to honour that warranty ?

Rodge,
I think you are forgetting just how big of a company Mitsubishi is. They made a $7.2 billion profit last year. Making cars is just a little side project for them, much the same as Hyundai.
Will they be around in 10 years? I'd say yes.

[Stagg]

I wonder if it is illegal for slavery in the Netherlands?

If not then I think I may like to purchase so called plant for $1 euro