Mitsubishi Motors Acquires Majority in Philippine Component Producer
July 25, 2014     Japanese 
  JCN 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
 
Mitsubishi Motors Acquires Majority in Philippine Component Producer - JCN Newswire
Share:
Mitsubishi Motors Acquires Majority in Philippine Component Producer
 
Core ASEAN-focused growth strategy enhanced through production base

Tokyo, June 27, 2014 - (JCN Newswire) - Mitsubishi Motors Corporation (MMC) announced that it has acquired shares of Asian Transmission Corporation (ATC) from Mitsubishi Motors Philippines Corporation (MMPC)* and Sojitz Corporation (Sojitz). As a result, MMC now holds 90% of ATC shares.

A production base for components, ATC supplies transmissions and engines for automobiles mainly to MMPC and other ASEAN countries. Through capital restructuring of ATC, MMC will enhance management of its component production business. Accordingly, MMC will utilize this advantage in the ASEAN region and produce newly-developed transmissions exclusively at ATC starting from September this year.

One major pillar of MMC's New Stage 2016 next mid-term business plan is to reinforce its production base in ASEAN countries. MMC will further reinforce operating base in ASEAN countries where automobile market is expected to have sustainable growth. MMC will do so by strengthening the structure of supplying components within ASEAN countries in addition to the restructuring of production capability in the Philippines as announced in March this year.

Note:

*MMC's exclusive producer and distributor in the Philippines.

About Mitsubishi Motors

Mitsubishi Motors Corporation (TSE: 7211) was established in 1970 and is one of the few automobile companies in the world that produces a full line of automotive products ranging from 660-cc mini cars and passenger cars to commercial vehicles and heavy-duty trucks and buses. The company also operates consumer financing services and provides this to its customer base. For more information, please visit www.mitsubishi-motors.com.

Contact:

Mitsubishi Motors
Public Relations Department
 http://www.mitsubishi-motors.com
+81-3-6852-4275

 


June 27, 2014
Source: Mitsubishi Motors

Mitsubishi Motors (TSE: 7211) (U.S: MMTOF)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Merger & Acquisition
View more news from these Sectors: Automobile Parts and Manufacturing, Automobile Technical, Automotive General


 
CSR Report Download
Annual Reports

  More >>    
Most Popular


About JCN | Privacy Policy | Terms of Use | JCN Network (日本語)