FPI eyes Ecuador to expand production | Bangkok Post: business

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FPI eyes Ecuador to expand production

Sight set on markets in South America

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Fortune Parts Industry Plc (FPI), a MAI-listed auto parts manufacturer, plans to expand its production in Ecuador next year to tap the South American market and take advantage of Ecuador's tax incentives. 

FPI makes and sources auto parts for the replacement market, 80% of which, it says, is not affected by shrinking car output.

Managing director Sompol Tanadumrongsak said the company signed a memorandum of understanding in April with an Ecuadorean automotive firm to form a joint venture in Ecuador worth around 60 million baht.

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