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Mitsubishi makes its second foray into the Philippines in four months, acquiring a 90% stake in Asian Transmission.

The deal comes after Mitsubishi bought the assembly facilities of Ford Philippines.

The Japanese automaker says the transmission acquisition is part of its strategy to further enhance its component operations and reinforce its production base in the ASEAN region.

The purchase will allow it to produce newly developed transmission components starting in September.

“One major pillar of (Mitsubishi’s) midterm business plan is to reinforce its production base in ASEAN,” the automaker says in a statement. “(Mitsubishi) will further reinforce its operating base in ASEAN countries where the automobile market is expected to have sustainable growth.”

Mitsubishi announced in March that it had acquired Ford’s factory site in Laguna Province. Vehicle production will begin there in January, once Mitsubishi Philippines’ current headquarters/factory in Rizal Province is relocated to the Ford site.

In April, Mitsubishi Philippines reached the 100,000-unit milestone for its locally manufactured Adventure utility vehicle launched in 1997. Mitsubishi developed the model as the ideal vehicle for the Filipino family, given its size, features, affordable price and low running cost.

The local parts content of the Adventure is one of the highest in the industry at 47%.

Mitsubishi Philippines originally was established as Chrysler Philippines in 1963. Mitsubishi took control and renamed it in 1987.

“The move this time to relocate (Mitsubishi Philippines’) headquarters/factory and reform its production capability reflects (Mitsubishi’s) will to prepare for its further growth in the promising Philippine market,” the automaker says.