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December 05, 2007
Agreement between companies
MFTBC’s participation in KTB and MKM comes as the result of an agreement among P.T. Krama Yudha (KY) of Indonesia, Mitsubishi Corporation (MC), Mitsubishi Fuso Truck and Bus Corporation and Mitsubishi Motors Corporation (MMC).The agreement principally calls for MFTBC to acquire equity positions in KTB and MKM. At the same time, MMC will take a stake in KTB, while transferring its share of MKM to MFTBC. Mitsubishi Fuso Truck and Bus Corporation will now own 18% of P.T. Krama Yudha Tiga Berlian Motorsand 32.28% of P.T. Mitsubishi Krama Yudha Motors and Manufacturing.
The new ownership structure of KTB and MKM is expected to bring strategic advantages to all involved parties, related to the Mitsubishi Fuso truck and Mitsubishi car business in Indonesia.The transaction based on this agreement has now closed.
Rising Sales in Indonesia
Due to improving market conditions and excellent response to new products, Mitsubishi Fuso sales in Indonesia increased through the first three quarters of 2007 by 48 percent to 21,679 units (same period in the previous yearQ1-Q3 2006 were 14,662 units).
In March 2007, Mitsubishi Fuso launched the new generation of its Canter in Indonesia. It has been extremely well received in the market. Overall, Mitsubishi Fuso’s product line for Indonesiaincludes light-duty trucks, heavy-duty trucks and light-duty bus chassis.
Based in Kawasaki, Japan, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) is one of Asia's leading commercial vehicle manufacturers. In 2006, the company sold a total of about 186,600 vehicles including light-, medium- and heavy-duty trucks and buses. Daimler AG owns 85% of MFTBC shares. The remaining 15% of shares are held by various Mitsubishi group companies. MFTBC is an integral part of the Daimler Trucks Division of Daimler AG.
(Dec 3, 2007)