BANGKOK, April 28 (Reuters) - Japan's Sumitomo Electric Industries said on Monday its Thai unit would invest three billion baht ($69.78 million) in Thailand over the next three years to expand its wire and cable business.
Magaging Director Masayoshi Matsumoto told reporters Sumitomo Electric (Thailand) would set up new plants and expand production at existing factories. He gave no details.
Sumitomo Electric Industries is a major maker of electric wire and cables for the auto industry.
A company statement said said Sumitomo's Thai unit, which employs more than 5,000 people, had sales of about 10 billion baht in 2002.