Ford to spend $500 mn on expansion in near future

KOLHAPUR: Ford India president and managing director Arvind Mathew on Saturday said the company will enter a new phase of development and growth in the country with the infusion of $500 million to expand its operations over next couple of years.
  
Before inaugurating a brand new dealership, Mr Mathew said Ford was looking at several opportunities, including introduction of a new small car, and setting up of an engine-manufacturing facility.
  
''We will continue to systematically widen our authorized Ford dealer networks to support our entry into product segments in the future and to expand company's footprint in tier II and III cities.''
  
''Dealerships are the backbone of any automobile company and we are focused to revitalise and further strengthen the company's distribution network,'' he pointed out.
  
Later, Mr Mathew formally inaugurated a brand new 3-S (showroom, sales and service) dealership, Planet Ford, in the city. It is the first of its 20 new dealerships to be added in 2008.