"We already have a solid position in Asia but actively look for new opportunities to develop growth platforms. This market is growing rapidly, over 10 per-cent per year, and we want to make investments in order to capture growth," said CEO Heikki Takanen.

"This project will strengthen our position and our existing customer portfolio as well as support exports of Thailand's growing food-related segments," said executive vice president Maurice Petitjean. According to a preliminary schedule, the new facility will commence production in mid-2008.

The value of the investment is about ¤17 million (Bt794 million).

Automobiles :Honda announces new president for Thailand

Honda Automobile (Thailand) announced the appointment of Kenji Otaka to the position of president, effective June 1.

Otaka headed Honda's auto business in Indonesia as vice president and president from 2002 to May 2007. His professional career at Honda has taken him to international postings in Malaysia, the Philippines and Indonesia.

In Southeast Asia, Otaka is one of Honda's key executives who have played a strategic role in leading the brand in the region.

Otaka succeeds Hiroshi Toda, who will be returning to Honda's headquarters in Japan and will retire later this year.