Hino enters Vietnam

Thu, 27 Nov 1997, 00:00 WIB | Source: AFP

Hino enters Vietnam

HANOI (AFP): A joint venture to produce heavy trucks,
involving Japan's Hino Motors, Sumitomo Corp. and the Vietnamese
ministry of transportation, has been officially opened, a Hino
executive said yesterday.

The company, Hino Motors Vietnam, is a US$8.1 million joint
venture to produce medium sized trucks.

It is one of 14 projects licensed to produce motor vehicles in
Vietnam, where auto assemblers are clamoring for a share of the
tiny local market.

Hino has a 51 percent stake in the 30-year assembly operation,
Sumitomo 16 percent and local partner Auto Repairing Factory
Number One,a company controlled by the ministry of
transportation, has 33 percent.

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