Tokyo (ANTARA News/Asia Pulse) - Isuzu Motors Corp. (TSE:7202) on Wednesday said it would increase its interest in Indonesian vehicle manufacturer P.T. Pantja Motor to 40 per cent from 12.5 per cent currently and turn the firm into an equity-method affiliate.
Pantja Motor is reorganizing its commercial vehicle operations and Isuzu will dispatch a management team to revamp the company's truck production and sales systems. Isuzu will also help Pantja Motor bolster its after-sales maintenance services.
Isuzu will increase its stake in Pantja Motor by purchasing Itochu Corp.'s (TSE:8001) entire 12.5 per cent interest and by buying a 15 per cent stake from the Astra group, which currently owns 65 per cent of the company.
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