Japan's Isuzu to study small trucks JV with Russia's OAO Severstal-Avto |
|
|
|
Published
:
Wed, 28 Feb 2007 13:16
|
TOKYO (XFN-ASIA) - Japanese automaker Isuzu Motors Ltd said it has agreed with Russia's OAO Severstal-Avto to study a possible joint venture in small trucks.Isuzu has already been supplying parts for small trucks to OAO Ulyanovsky Avtomobilny Zavod, which is under the control of OAO Severstal-Avto, and will now discuss deeper ties, the Japanese automaker said in a statement.Japanese trading house Sojitz Corp is also involved in the talks.'Isuzu has positioned the CIS (group of ex-Soviet) nations as one of the most important markets in the future,' the automaker said in a statement.It launched manufacturing and sales activities in Ukraine in 1998 and in Uzbekistan in 2006.'Based on these experiences, Isuzu,together with the other two parties will study the establishment of a joint venture company engaged in manufacturing and sales, with a view to develop and expand business activities in Russia, the biggest market among the CIS nations,' it added.The company sees sales for 2007 in the CIS states of 10,000 units, with a potential for 50,000 units 'in the near future.'The agreement was announced during a visit to Japan by Russian prime minister Mikhail Fradkov.afp
|
|
|
|
Print this Story
Isuzu, NTT set to sign deals when Russian premier visits Japan - report 