Isuzu to enter into the business of rebuilding used vehicle engines in Colombia
ISUZU MOTORS LIMITED (headquartered in Shinagawa Tokyo and headed by Masanori Katayama, President and Representative Director, hereinafter called "Isuzu") and National Truck Service SAS (hereinafter called "NTS"), a subsidiary of Helm Holdings International Inc. in US, operating a nationwide repair and service network in Colombia have agreed to form a new joint venture company called "Isuzu Remanufactura de Colombia S.A.S. (hereinafter called "IRC") with aims to save customers' maintenance costs and make effective use of resources. IRC will be scheduled to start its business and operation in November, 2017.
IRC, founded in the capital city Bogota, will engage in the business of rebuilding used vehicle engines (engine remanufacturing) for Isuzu. In 2008, Isuzu and General Motors South America Ltd. (headquartered in Sao Paulo) established a joint venture, GM-Isuzu Camiones Andinos de Colombia, Ltda. (GMICA-Colombia) in Colombia with a view to effectively market new vehicles. The joint efforts will also be directed toward developing and pursuing the engine rebuilding business.
Isuzu and GM jointly hold a high market share exceeding 50% in the commercial vehicle segment in Colombia. In addition to supplying vehicles, Isuzu will make every conceivable effort to curtain its customers' vehicle running costs, and ultimately endeavors to pursue its corporate vision, "Isuzu as a reliable partner strives to meet the "transportation needs" of its customers and enrich people's lives around the world."
Outline of the newly-established company