HINO PRODUCTION TO START IN MALAYSIA
Hino Motors of Japan has set up a joint venture with a Malaysian company, MBM Resources Berhad (MBMR), to build a truck manufacturing plant in that country. MBMR is Hino's local partner in Malaysia and holds a 42% share in Hino’s sales subsidiary, Hino Motors (Malaysia).
This is the latest example of Hino’s intention to continue expanding its manufacturing capacity and extending its global footprint. This is in line with Hino’s strategy of increasing its sales by 73% between 2011 and 2015.
Hino will hold a 58% share in the new manufacturing plant with the remainder of the equity held by MBMR. The plant will have an initial production capacity of 10 000 units a year. Construction is scheduled to begin in February 2013 and production start up will be at the beginning of 2014.
Malaysia is Hino’s third largest market in Asia and is recognised as key market in that region after Indonesia and Thailand. The new plant will supply the Malaysian domestic market as well as strengthening Hino’s business base in Asia as an export hub.
Last year Malaysia ranked third among Hino’s global markets with 6 034 units sold. Hino SA was ranked ninth with sales of 3 103 units.