Govt fundings would not help Mitsubishi - Aust's Costello

AAP General News (Australia)
04-28-2004
Govt fundings would not help Mitsubishi - Aust's Costello

Federal Treasurer PETER COSTELLO says more federal funding will not help bail out Mitsubishi's
Australian operations.

Mr COSTELLO says he's concerned for the company's Australian workers, but the problem
is beyond the government's control.

He says Mitsubishi is facing significant challenges and the Australian leg is caught up in that.

Mitsubishi Australia is under pressure on two fronts, with the resignation of the car
maker's global chief executive and the South Australian government moving to make any
exit from Adelaide as expensive as possible.

In Tokyo, ROLF ECKRODT resigned as chief executive and president of Mitsubishi Motors
Corp after DaimlerChrysler AG announced last week it would not offer more money to finance
the struggling Japanese partner's turnaround.

AAP RTV sp/rh/rp

KEYWORD: MITSUBISHI COSTELLO (MELBOURNE)

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