Mitsubishi to extend Colt production at Dutch NedCar plant - union
 

AMSTERDAM (AFX) - Dutch car maker NedCar has won a contract valued at 'tens of millions of euros' from Mitsubishi Motor Corp, extending the production of Colt cars at its Dutch plant until 2011-12, trade union FNV Bondgenoten said.

NedCar and Mitsubishi (other-otc: MSBHY.PK - news - people ) have both refused to comment, but FNV spokesman Henk van Rees said NedCar workers were confidentially informed about the deal yesterday.

It was originally intended that NedCar would continue to produce the Colts only until 2010, but Mitsubishi plans to give the model a facelift, meaning production can be extended for up to another two years.

Van Rees said the investment means NedCar's annual production of 70,000 Colts at its Born plant and the jobs of 1,350 workers can be retained.

The exact financial details of the deal are not yet known, but Van Rees told AFX News it was a 'substantial investment'.

Copyright AFX News Limited 2007. All rights reserved.

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited

Neither the Subscriber nor AFX News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.

Source: [url=http://www.forbes.com/business/feeds/afx/2007/03/02/afx3479448.html]Forbes[/url]