Gm: Thailand Operations Face No Interruption

BANGKOK -(Dow Jones)- General Motors Corp. (GM) said Wednesday that its operations in Thailand are expected to continue without interruption following a U.S. judge's approval of the sale of most of GM's assets.

"The launch of the new GM will have a positive impact on GM's operations across Thailand/ASEAN," Steve Carlisle, president of General Motors' Southeast Asia operations, said in a statement.

"It will enable us to continue to take advantage of our company's global resources through the introduction of exciting new products and the expansion of our presence in this important market."

GM operates a plant in the eastern Thai seaboard province of Rayong, which last year produced a total of 104,461 vehicles. It expects to produce only 45, 000 vehicles this year due to low demand.

The automaker has also proposed investing THB15 billion ($439.4 million) in a diesel-engine and one-ton pickup project, which is planned to have a capacity of more than 100,000 units per year.

A U.S. Bankruptcy Court judge on Sunday approved the sale and gave GM permission to close the sale Thursday.

Under GM's sale proposal, the auto maker is splitting off its good assets to a new company owned largely by the U.S. government while leaving the rest to be wound down in bankruptcy.

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