Japan: Toyota buys more Isuzu shares ahead of possible R&D collaboration
Tuesday, November 07, 2006, AutomotiveWorld.com
Isuzu and Toyota have signed a memorandum of understanding (MoU) to examine synergies that may lead to future joint venture projects.
The study will focus on research & development (R&D) and production, and technological development, using both companies' management resources, Toyota says.
Isuzu will investigate opportunities for the pooling of small diesel engine production and take the lead in any joint development of emission-control technologies and devices for diesel engines.
Toyota, for its part, will look into combined environmental technologies, which will include alternative fuel research.
In related news, Toyota has also bought 60 million Isuzu shares from Mitsubishi and a further 40 million from ITOCHU. Toyota's total shareholding should reach 5.9% if all Isuzu Class I preferred stocks involved are transformed into common stocks. Share settlement is scheduled for 10 November.
Published on Tuesday, November 07, 2006
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