Truck maker Isuzu Motors will integrate its vehicle components casting arms on 31 March, 2007, to enhance the group’s technological foundations related to the casting process, according to Kyodo News.
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Under the combination scheme, Isuzu will arrange a management integration of its wholly owned subsidiary Isuzu Castec and its affiliate Automobile Foundry, according to the manufacturer known for its diesel engine technology.
Isuzu Motors has been making diesel engines’ development and manufacturing a pillar of its business operations, Kyodo noted. Isuzu Castec is renowned for its technology for manufacturing cylinder blocks for diesel engines.
The report said the combination is aimed at reducing development costs and shortening the period for developing new diesel engines.
At present, Isuzu Motors owns 31% of Automobile Foundry, listed on the Second Section of the Tokyo Stock Exchange. The integration will be implemented by a stock swap scheme, Kyodo said.
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By GlobalDataThe scheme will make Automobile Foundry into an Isuzu Motors subsidiary whose results will be consolidated into the truck maker’s group financial statements, it added, according to Kyodo News.
