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November 18, 2008
Marubeni has concluded Joint Venture Agreement with MTU (Tognum) Group regarding MTU Diesel Engine Distribution for Japanese Market
On November 17, 2008, Marubeni Corporation (hereinafter “Marubeni”) concluded a Joint Venture Agreement with MTU (Tognum) group (hereinafter “MTU”), a world-leading diesel engine manufacturer in Germany, to participate in a distribution business in Japan.
On January 1, 2009, Marubeni will take over 49 percent share of MTU Japan Co. Ltd (hereinafter “MTU Japan”), distribution arm of MTU. The new company will operate under the name MTU-Marubeni Co., Ltd.
MTU is a world-leading manufacturer of high-speed diesel engine with 25% share owned by Daimler AG. MTU products are highly-esteemed in the market for the wide range lineup covering up to 9200 kW for marine, industrial, rail, defense and onsite-energy system applications. MTU has a prominent position in the European Market, and has expanded in North America and Asia Oceania Markets.
Marubeni has enjoyed successful cooperation with MTU as sales agent in the defense technology sector since 2003. MTU has been promoting marine, industrial, onsite-energy diesel engines and services for Japan Coast Guard, construction machinery manufacturers and other customers.
Under the new joint venture, MTU and Marubeni will consolidate respective resources to meet the needs of these businesses for enhanced service and growth.
One of the aims of MTU-Marubeni is to elevate customer satisfaction by providing high quality products and service based on the existing service network established by MTU in Japan. By doing so, the joint venture looks to achieve above-average growth in all the relevant off-high way markets.
<Outline of MTU Marubeni>
Location : 11-13, 3-Chome, Nihonbashi, Chuo-ku, Tokyo
Establishment : January 1, 2009
Share Capital : 35,000,000 Yen
Share Holding ratio : MTU 51?, Marubeni 49?
Employee : 20
Outline of Business : Distribution of MTU Diesel Engines and Spare Parts
(As of January 1, 2008)
<Outline of MTU (Tognum) Group>
Representative : Volker Heuer, Chairman & CEO
Location : Maybachplatz 1, 88045 Friedrichshafen / Germany
Establishment : 1909
Share Capital : 131,375,000 Euro
Employee : 8,179
Outline of Business : Manufacturer of Diesel Engine for marine, industrial, rail, defense and onsite-energy (As of December 31, 2007)
For more news about Marubeni, please visitwww.marubeni.com