Foton Motors to assemble in Clark

Foton Motors Philippines will set up an automotive and truck assembly plant inside the Clark Freeport Zone. The company signed a US$20 million lease agreement, which gives it a renewable lease term of 25 years covering a 50,000 square meter area in the Clark Freeport Zone. Foton Motors is operated by United Asia Automotive Group Inc., the Philippines’ biggest distributor of pick-ups, vans, specialty trucks and mini-buses. The company imports trucks from Foton, China’s largest commercial vehicle manufacturer, in terms of production and sales volume. The new assembly plant will employ 120 workers in its initial stage. (December 12, 2011)