December 4, 2007
Daimler Trucks subsidiary strengthens ownership in Indonesia
Stuttgart, Germany – Mitsubishi Fuso Truck and Bus Corporation (MFTBC), an integral part of Daimler Trucks, has announced it has acquired equity positions in two of Indonesia’s leading truck and automotive companies. Indonesia is MFTBC’s largest market outside Japan.
The companies are P.T. Krama Yudha Tiga Berlian Motors and P.T. Mitsubishi Krama Yudha Motors and Manufacturing.
“Daimler Trucks sees strong, long-term growth prospects in Asia as a whole, including in the key market Indonesia,” said Andreas Renschler, Daimler AG Board Member responsible for the Daimler Trucks division. “This move will further strengthen Mitsubishi Fuso’s ability to build on its leading position in Indonesia, while enhancing the business in all aspects.”
Mitsubishi Fuso is the leading commercial vehicle brand in Indonesia, with over 50 per cent market share; over the past five years, it has sold more than 175,000 units in the market.