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Mitsubishi Motors to buy a Ford plant in the Philippines: Nikkei

[March 31, 2014]  TOKYO (Reuters) — Mitsubishi Motors Corp <7211.T> will buy a car plant from Ford Motor Co <F.N> in the Philippines for around 10 billion to 15 billion yen ($97 million-$145.7 million), the Nikkei newspaper reported on Monday without citing sources.

The newspaper said Mitsubishi Motors is increasingly relying on Southeast Asia to boost sales.

The plant, where Ford used to build SUVs but stopped operating in 2012, has an annual manufacturing capacity of around 40,000 vehicles, the Nikkei said.

(Reporting by Yoko Kubota; editing by Dominic Lau and Paul Tait)

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