GM cuts loose Isuzu
April 11, 2006 by tsikot · Comments Off
Filed under: Trucks/Pickups, Plants/Manufacturing, Commercial Trucks, GM, GMC, Isuzu, Earnings/Financials
src="http://www.autoblog.com/media/2006/04/W-series-Isuzu-GMC-(resized-250).JPG" />Reports are that GM has sold its
7.8% stake in Isuzu Motors to a group of investment partners and strategic shareholders in the Japanese
manufacturer of passenger cars, commercial vehicles, and diesel engines. The deal will put about $300M in GM’s pocket,
and will still allow business relationships between the two companies to continue. Those include the manufacturing of
light trucks in Asia, Africa, and the Middle East, diesel-engine efforts in Europe and the US, and the GMC-Isuzu
commercial truck venture (such as the GMC W-series that is produced in Janesville, WI).
At one
time, GM held as much as 49% of Isuzu during the 35-year relationship between the two companies, but that share was
reduced over the years due to a variety of financial maneuvers.
[Source: Marketwatch.com]
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