Firm eyes to buy Honda’s facility in Laguna: DTI

FILE: Trade and Industry Secretary Ramon Lopez announces during a press briefing at the International Media Center (IMC) in New Delhi, India on January 25, 2018 that the Philippines and India has entered into nine agreements that aim to expand and strengthen the trade and investment relationship of both countries. YANCY LIM/PRESIDENTIAL PHOTO

MANILA – Trade Secretary Ramon Lopez said a company is interested to buy the manufacturing facility of Honda Cars Philippines, Inc. (HCPI) in Sta. Rosa, Laguna.

Lopez told reporters at the sidelines of National Business One-Stop Shop launching on Friday the company that inquired about HCPI’s property is an existing firm here but “not necessarily” in the automotive industry.

“That’s our point. If a company left, then some will expand. They would like to locate here, expansion of their operation,” he added.

He, however, declined to name the company that is interested to take over HCPI’s facility.

HCPI will be closing its car assembly operation this month after announcing its rationalization plan for Asia and Oceania region.

The factory in Laguna is producing Honda models BR-V and City.

Recently, the country’s trade chief said it is the global uncertainties that pushed multinational companies like Honda to shut down their operations in the Philippines.

“Look at the world; we are a small player, a small country compared to the global world demand.

So you can expect a lot of this rationalization,” Lopez said.