Tashkent, Uzbekistan, July 31
By Demir Azizov- Trend:
Japanese Isuzu Motors has obtained 8 percent in the authorized capital of Samarkand Automobile Factory LLC from Uzavtosanoat (Uzavtoprom) stock company which is the main owner of the factory, the message from Uzbek company said.
The corresponding agreement between the Japanese company and Uzavtoprom was signed during the visit of vice president and director of Isuzu Motors Takanobu Furuta to Uzbekistan, said the message.
The cost of the deal hasn't been revealed.
The sides have also reached an agreement on further long-term development strategy of Samarkand Automobile Factory, as well as on further using the Japanese technologies and manufacturing process, according to the message from Uzbek company.
Isuzu Motors has been the technical partner of Samarkand Automobile Factory LLC since 2007. It has been supplying chassis and engines for the buses, medium-duty trucks and other vehicles manufactured by the company.
Samarkand Automobile Factory LLC was founded in November 2006 on the basis of Uzbek-Turkish joint venture SamKochAvto which was declared bankrupt.
Edited by SI