Closure of Philippine manufacturing ops not related to local issues —Honda

Honda Cars Philippines Inc. (HCPI) on Tuesday said the closure of its manufacturing plant in Laguna province was part of its global reduction of operations and not related to local issues.

According to HCPI spokesperson Atty. Louie Soriano, the shutdown of Philippine manufacturing was not connected to local concerns such as planned reforms on the current tax regime.

"Basically, if you are a businessman and you are looking, for instance, on a point of view of regional operations, you have to make an efficient allocation of your resources," he said in a congressional hearing in Quezon City.

His remarks come after reports that the closure of the manufacturing plant of the company was due to concerns on the local tax regime.

HCPI on February 22 announced the closure of its manufacturing plant in Santa Rosa, Laguna effective March 25.

"It is unfortunate that Honda Motors has decided to close down the manufacturing operation," said Soriano, who noted that the company is now working with the affected employees to secure jobs in other companies. —KBK, GMA News