Hino enters Vietnam

Thu, 27 Nov 1997 | 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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