Content area
Full Text
Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President: Kuniharu Nakamura; hereinafter,Sumitomo) will invest 1.2 billion yen in CIMC Vehicles (Group) Co., Ltd. (Head Office: Shenzhen, Guangdong, China; President: David Li ;hereinafter,CIMC Vehicles), the worlds largest trailer manufacturer, by purchasing shares to be newly issued. The two companies have signed a joint-venture agreement that includes the aforementioned capital contribution.
CIMC Vehicles manufactures and sells industrial special-purpose vehicles, such as trailers, mainly in China, North America, Europe and Australia. The company is particularly strong in semitrailers, boasting the worlds top position with a 10 percent global share. For fiscal 2015, it expects to sell...