INDONESIA: Mitsubishi Fuso deepens ties in Indonesia
Mitsubishi Fuso has taken a stake in an Indonesian dealer group and a local component supplier.
According to dpa-AFX Mitsubishi Fuso Truck and Bus Corporation (MFTBC), a subsidiary of Daimler, has taken an 18% share in P.T Krama Yudha Tiga Berlian Motors (KTB) and a 32.28% share in component supplier P.T. Mitsubishi Krama Yudha Motors and Manufacturing of Indonesia (MKM).
Andres Renschler, head of Daimler Trucks, explained that the acquisitions are part of the group's strategy to exploit group in Asia and in particular Indonesia.
Indonesia is the largest truck market in Asia after Japan. Mitsubishi Fuso has been selling more than 175,000 trucks a year there recently.
Daimler owns 85% of MFTBC. The remaining 15% shares are held by various companies within the Mitsubishi Group.