UPDATE 1-MMC to seek Y250 bln in restructuring funds-source

Newswire

(Adds company comment, appointment of MMC president) By Takaya Yamaguchi TOKYO, April 30 (Reuters) - Mitsubishi Motors Corp (MMC) will work on a restructuring plan costing around 250 billion yen ($2.28 billion), part of which will be used to expand its output capacity in the Philippines tenfold, a Mitsubishi group source said. Japan's fourth-largest auto maker, struggling to survive after its top shareholder DaimlerChrysler AG pulled out of a bailout plan last week, will invest tens of ...

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