Mazda Motor Corporation and Sumitomo Corporation have agreed to the automaker obtaining all the shares Sumitomo owns in Mazda de Mexico Vehicle Operation (MMVO).
After formalities regarding the transfer, MMVO will be a production base owned 100% by Mazda by the end of the fiscal year ending 31 March 2021.
Go deeper with GlobalData
MMVO was jointly established as a cooperative enterprise between Mazda and Sumitomo in September 2011 to leverage the strengths of both companies.
MMVO is now one of Mazda's major production facilities with its localisation strengthened thanks to Sumitomo's experience and knowledge. Production volume has passed 1m units.
It was agreed that as MMVO reaches its 10th year since its foundation, Mazda will become the sole proprietor of MMVO as a result of discussions between Mazda and Sumitomo on MMVO's future plans and management.
In the future, Mazda and Sumitomo will continue to cooperate as important business partners in various business areas in and out of Japan.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
