December 29
Abigail Phillips Abigail Phillips - Leadership
Yamaha Motor Co has announced that it will begin
manufacturing in Nigeria, Africa as part of a joint
agreement with CFAO S.A. According to reports, the
factory will officially open its doors in mid-2015.
The new company to be known as CFAO Yamaha Motor
Nigeria Ltd. (CYMNG), and Yamaha Motor and CFAO (a
French company, specialized in distribution of major
international brands in Africa in the Toyota Tsusho Group)
are to make equal investment contributions toward a start-
up capital of $1 million.
The new CYMNG factory will cover an area of 2,790 square
meters will be built in Lagos, Nigeria’s largest city.
Scheduled to commence operation in summer 2015, the
factory has a production target of 70,000 motorcycles by
2018.
In 1980, Yamaha Motor established a motorcycle factory in
Nigeria that carried out manufacture and sale of
motorcycles, however in 2005 the company pulled out of
production due to a decline in the market - ever since
Yamaha has been selling motorcycles imported from Japan
or India through local dealerships. This joint venture
represents Yamaha Motor’s second foray into the Nigerian
market.
The population of Nigeria is currently 170 million, and
explosive growth in the population and economy has
contributed to heightened demand for motorcycles in the
region. Demand is expected to skyrocket even further, due
to the fact that motorcycles are fast taking over taxis as
the number one form of transportation.
http://www.manufacturingglobal.co m/leadership/284/
Yamaha-begins- manufacturing-in-Nigeria