JAPAN: Mitsubishi completes EUR1 sale of Dutch plant
Mitsubishi Motors has completed the sale of its wholly owned car plant subsidiary in the Netherlands to the country's VD Leegte Beheer for EUR1, in line with an agreement reached in July.
The sale of Netherlands Car results in a one-off loss of some JPY25.1bn, the automaker told Kyodo News.
The plant ceased production of Mitsubishi Colt and Outlander cars in November and will manufacture vehicles for BMW's MINI unit.
Although no details have yet been announced for the 200,000 units a year plant, it is widely expected to assemble some cars under contract for MINI from 2014, when a redesigned line is due out.