Mitsubishi Motors Corporation (MMC) says it has acquired 90% of the shares of Asian Transmission Corporation (ATC) from Mitsubishi Motors Philippines Corporation (MMPC) and Sojitz Corporation (Sojitz).
A production base for components, ATC supplies transmissions and engines for cars mainly to MMPC and other ASEAN countries.
A statement from Mitsubishi noted: “Through capital restructuring of ATC, MMC will enhance management of its component production business. Accordingly, MMC will utilise this advantage in the ASEAN region and produce newly-developed transmissions exclusively at ATC starting from September this year.
“One major pillar of MMC’s New Stage 2016 next mid-term business plan is to reinforce its production base in ASEAN countries. MMC will further reinforce operating base in ASEAN countries where [the] automobile market is expected to have sustainable growth.
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“MMC will do so by strengthening the structure of supplying components within ASEAN countries in addition to the restructuring of production capability in the Philippines as announced in March this year.”
