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2 June 2009

Parent’s bankruptcy won’t affect GM’s Thai unit

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GM Thailand will continue its investments here to turn Thailand its hub of Southeast Asian operations and will not lay off its workers, Carlisle Stephen, President of GM Southeast Asia Operations Limited was quoted by local press as telling Thai Industry Minister Charnchai Chairungrueng Monday.

He said GM Thailand would expand its investments here because Thailand has potential for the company to expand into other regional countries, The Nation newspaper's website reported.

Carlisle Stephen, who is also the president of General Motors (Thailand) Limited and Chevrolet Sales (Thailand) Limited, visited and assured to the Thai minister, amid international news reports of the planned file of the bankruptcy of General Motors Corp later on Monday in the US.

General Motors (Thailand) is a subsidiary of the US-based General Motors Corp.

He said GM Thailand would continue using Thailand as its investment hub of GM products for the regional markets, moreover, the company would not lay off its workers because it has become a separate business unit independent from its parent company in the US.


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