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Minchin congratulates Mitsubishi on securing new export deal.



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6 June 2000           00/195 

MINCHIN CONGRATULATES MITSUBISHI ON SECURING NEW EXPORT DEAL 

The Minister for Industry, Science and Resources, Senator Nick Minchin, today congratulated Mitsubishi Motors Australia Limited (MMAL) on securing a contract which will see the export of an additional 4000 Magnas to the United States and result in the employment of 300 temporary blue collar workers. 

"Due to increased demand from the United States, MMAL have recently secured a contract which will boost export earnings by $150 million," Senator Minchin said. 

"This is great news for MMAL who, to their credit, have ignored the detractors and got on with the job of manufacturing quality vehicles. 

"When it is considered that the June issue of Which Car magazine rated the Magna as the best Australian made car, it should come as no surprise that the Magna, or Diamante as it is known in the United States, is a competitive performer in the same market as the Volvo and BMW. 

"The message from the parent company has been that if MMAL is to remain viable in Adelaide and thus remain a significant employer it has to be internationally competitive. That is why, Mitsubishi announced, just over a month ago, that strategic restructuring must occur as soon as possible.  

"MMAL's new export contract deal is a cause for optimism and follows the recent announcement of record automotive export figures for South Australia for the current financial year. 

"From January 2001, Mitsubishi, like other car assemblers, will be able to access the extensive benefits available under the Commonwealth Government's $2 billion Automotive Competitiveness and Investment Scheme (ACIS) to enhance their productivity and competitiveness - in addition to the Government's GST package which will provide an additional permanent stimulus to vehicles sales.  

"I take this opportunity to again congratulate the entire workforce on their commitment to maintaining Australia as an automotive centre of excellence," concluded Senator Minchin. 

Contact: Steve Ronson, Senator Minchin's office, 02 6277 7580 

CMR245-00

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