May 31, 2012
ISUZU's Business in Russia
- ISUZU to Raise Stake in SOLLERS-ISUZU -
With a view to stepping up our production and sales of commercial vehicles in Russia, a market with significant sales growth prospects, Isuzu Motors Limited (Isuzu) has decided to increase its stake in SOLLERS-ISUZU, which Isuzu owns with OJSC Sollers (Sollers) and Sojitz Corporation (Sojitz).
Sollers currently owns 66%, Isuzu, 29%, and Sojitz, 5% of SOLLERS-ISUZU. As part of our initiative for the Russian market and in line with the Mid-term Business Plan, we will increase our ownership in SOLLERS-ISUZU to 45% by purchasing shares owned by Sollers.
At the same time, we will also dispatch directors to SOLLERS-ISUZU who will take charge of sales, finance, and after-sales service, while actively reconstructing the dealership network.
With a view to long-term business stability, we have also decided to relocate the plant in Elabuga District, Republic of Tatarstan, where SOLLERS-ISUZU has been manufacturing trucks since 2008, to Ulyanovsk City in Ulyanovsk Oblast.
Sollers currently owns 66%, Isuzu, 29%, and Sojitz, 5% of SOLLERS-ISUZU. As part of our initiative for the Russian market and in line with the Mid-term Business Plan, we will increase our ownership in SOLLERS-ISUZU to 45% by purchasing shares owned by Sollers.
At the same time, we will also dispatch directors to SOLLERS-ISUZU who will take charge of sales, finance, and after-sales service, while actively reconstructing the dealership network.
With a view to long-term business stability, we have also decided to relocate the plant in Elabuga District, Republic of Tatarstan, where SOLLERS-ISUZU has been manufacturing trucks since 2008, to Ulyanovsk City in Ulyanovsk Oblast.
[Outline of the New Plant]
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[Outline of SOLLERS-ISUZU](After change of ownership)
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