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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd. ("Mitsui") announced today that it has decided with Hino Motors Ltd. ("Hino") to establish company called "HINO MOTORS MANUFACTURING MEXICO, S.A. DE C.V. (HMMM)", a J/V company as the assembly plant of the Hino trucks in Guanajuato state of Mexico and also decided to allocate new stock of "HINO MOTORS SALES MEXICO, S.A. DE C.V. (HIMEX), existing sales company owned by Mitsui, to Hino in an aim to strengthen Hino business in Mexico through a combination of sales and manufacturing.
As Mitsui announced in January of 2007, HIMEX introduced the "Hino 300 series (Japanese name: Hino Dutro)" in Mexican Market in August of the same year. This time, HIMEX has the plan to assemble and introduce the "Hino 500 series (Hino Ranger)" in order to create and expand the Hino trucks sales and its brand penetration in Mexico. This "Hino 500 series" has advantages such as logistics expenses reduction, customs allowance merits and so on which are expected to lead to its stronger price competitiveness. Taking this opportunity, HIMEX is willing to accept the additional investment of Hino to demonstrate the effectiveness of the sales and manufacturing combined synergy and to totally strengthen this Hino business in Mexico.
|Campany Name||HINO MOTORS MANUFACTURING MEXICO, S.A. DE C.V.|
|Location||Guanajuato state of Mexico|
|President||To be selected by HML|
|Capital||US 9Million Dollars|
|Shareholders||Hino 80%, Mitsui 20%|
|Site Area||96,000m2(Building Site3,600m2)|
|Product Model||HINO500 series|
|Plant Capacity||1,200-unit per year|
|Production start||July, 2009|
|Business Purpose||Assembling Hino trucks|
|Company Name||HINO MOTORS SALES MEXICO, S.A. DE C.V.|
|Location||Mexico City, Mexico|
|President||Mr. Hiroshi Hara|
|Additional Investment||August, 2008|
|Capital||US 7.7Million Dollars(Before:US 5Million Dollars)|
|Capital Rates||Mitsui 65%, Hino 35%(Before:Mitsui 100%)|
|Employees||Approx.40(as of the end of 2008)|
|Business Purpose||Sales of Hino truck and its spare parts|
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