UD Trucks

Notice of Discontinuation of Discussions concerning Establishment of a Joint Company for Bus Business

Friday, 29 October 2010 | Print

UD Trucks Corporation has discontinued the discussions that have been under way with Mitsubishi Fuso Truck and Bus Corporation (MFTBC) concerning the establishment of a joint company for the bus business. The reason is that it became clear there was no room for compromise on the widely diverging views of the business prospects and amount of corporate valuation of the joint company.

UD Trucks Corporation has discontinued the discussions that have been under way with Mitsubishi Fuso Truck and Bus Corporation (MFTBC) concerning the establishment of a joint company for the bus business. The reason is that it became clear there was no room for compromise on the widely diverging views of the business prospects and amount of corporate valuation of the joint company.

Additionally, in conjunction with the discontinuation of these discussions about the establishment of a joint company, UD Trucks will also terminate the basic OEM agreement with MFTBC for mutual supply of buses and engines.

The date for termination of the agreement will be decided with respect to the desires of customers who are currently engaged in purchase negotiations. UD Trucks will continue to provide after-sales service and parts for the MFTBC-supplied buses the company has already sold.

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