Mazda Announces Plans To Reenter Indonesian Market -Kyodo
Thursday April 27, 3:23 AM EDT
TOKYO, Japan -(Dow Jones)- Mazda Motor Corp. (7261.TO) on Thursday officially announced plans to renter the Indonesian market through the establishment of a wholly owned sales company, PT Mazda Motor Indonesia, Kyodo News reported.
PT Mazda Motor Indonesia is scheduled to begin operations in the third quarter of 2006, Mazda said in a press release, according to Kyodo.
Sales network planning is already underway. PT Mazda Motor Indonesia has appointed its first dealership in Jakarta, PT Wahana Auto Ekamarga, the automaker said.
A major shareholder in the dealership is Wearnes International Group. (512.SG) , a Singapore-based publicly traded company that distributes several of Ford Motor Co.'s Premier Automotive Group brands such as Jaguar and Volvo in other markets. Wearnes currently runs a number of Mazda dealerships in Thailand.
PT Mazda Motor Indonesia plans to showcase its launch models at the Indonesia International Motor Show in July 2006.
(END) Dow Jones Newswires