Offer From the Thailand Team to Ford Motor Co.
We are happy to inform you about our decision.
AutiThai management came to the conclusion, that Ford Motors Co. is the best partner for the joint-venture. Therefor we are willing to AWARD YOU A CONTRACT with the following parameters:
Assets will be formed by
Debt will be financed by bond emission (50%) and credit from international bank (other 50%)
Thailand government will provide certain guaranties for borrowings.
Equity will be financed by the following scheme:
Initially Ford finance 70% and AutoThai finance 30%
Through first 5 years AutoThai will gradually repay 21% of equity to Ford, so by the end of year 5 Ford will posess 49% and AutoThai - 51% of equity.
Joint venture will be export oriented so export quota initially will be 55%.
Both initially and reasonable time after 5 years leading role in sales and production management will belong to Ford specialists, so board of directors will be as follows:
Yet Ford will organise a training centre in Bangkok to train thai personnell for both production and management.
Plants will be located in Bangkok and will benefit from tax and accounting incentives mentioned in our RFP.
Initially annual production capacity will be 60'000 cars and will be increased to 150'000 or more.
We hope that all stated above is accepted by both sides of agreement. If not, please let us know as soon as possible.
If you have no problems with the agreement, will you please create the contract text (according to conditions mentioned above)? Send it to us, please, and you may also post it on Globetech homepage (we feel that we're little bit behind the schedule...).
Let us mention the reasons that made us choose Ford for our partnership:
These are the reasons due to which we awarded a contract to Ford and thus we open a new era in Thailand industrial developement.
Sincerely yours Thailand Team.
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