Renault, Mitsubishi sign deal

Renault, Mitsubishi sign deal

TOKYO (AFP): French automaker Renault SA has placed massive
orders for turbochargers with Japan's Mitsubishi Heavy Industries
Ltd. and plans to triple purchases in two years, a business daily
said Saturday.

Renault, which has been sourcing a major portion of
turbochargers to Garrett Automotive Group of the United States,
will buy 20,000 units from Mitsubishi between next April and
March 2000, Nihon Keizai Shimbun said.

The purchase will be increased to 60,000 units annually in the
following year, the daily reported.

Renault will use the Japanese-made parts for its diesel-engine
cars, it said.

The move comes as Mitsubishi Heavy is looking to boost market
share in Europe and is promising quick delivery from an assembly
plant in Netherlands, it said.