Thai
Elite Member
Toyota & Mitsubishi Collaboration...Supra sneak peak!
See 2nd to last paragraph for info on the next Supra....
thai.
-----------------------------------------
Merger Agreement Signed: Toyota and Mitsubishi Combine to Form the Leading Global Automotive Company
AUBURN HILLS, Mich., March 30, 2008
The following was released today by Toyota and Mitsubishi Corporation:
-- Mitsubishi chairman Yoichiro Okazaki : "World class products and brands complement each other"
-- Toyota chairman Yuri Kageyama : "Perfect fit of two
market leaders for further global growth"
-- Benefits of $ 1.4 bn expected in 2009 -- Annual benefits of $ 3 bn
expected to be reached in the next several years
-- No plant closures or lay-offs planned
-- Merger valued at $ 70 bn -- largest industrial merger second to only DaimlerChrysler merger in 1998
The transaction will create a world-class automotive corporation ranked in
the world's top three in terms of revenues, market capitalization and
earnings. The new company will still be called by their individual title, and jointly led by
Yuri Kageyama and Yoichiro Okazaki as Co-Chairmen and Co-Chief Executive
Officers, will be uniquely positioned to exploit the growth opportunities of the global automotive market in terms of
geographical and product segment coverage.
Changing the face of the industry
"The two companies are a perfect fit of two leaders in their respective
markets," said Yuri Kageyama, Chairman of the Management Board of
Toyota. "Both companies have dedicated and skilled workforces and
successful products, but in different markets and different parts of the
world. By combining and utilizing each other's strengths, we will have a
pre-eminent strategic position in the global marketplace for the benefit of
our customers. We will be able to exploit new markets, and we will improve
return and value for our shareholders. This is a historic merger that will
change the face of the automotive industry."
Mitsubishi Chairman Yoichiro Okazaki said, "Both companies have product
ranges with world class brands that complement each other perfectly. We will
continue to maintain the current brands and their distinct identities. What
is more important for success: Our companies share a common culture and
mission. We are both clearly focused on serving the customer by building
world class cars and trucks, we both have a reputation for innovation and
quality, and we are both committed to increasing value for our shareholders.
By realizing synergies and with our combined financial and strategic
strengths, we will be ideally positioned in tomorrow's marketplace."
With Toyota and Lexus, Toyota is the market leader in most of the world's premium car markets.
One of the prime benefit of this merger can be seen in the current development of the upcoming Toyota Supra.
In early 2006, Toyota started dropping some hints that a new Supra was in the works.
Toyota leaked a few pictures of future concept cars and many Internet websites and Supra message forums were abuzz.
Very few details have been offcially released about this new Supra, but Toyota-Mitsubishi officials hint that it will share components and
possibly designs with the Lexus IS-F and the Mitsubishi Lancer Evo X. The Supra, according to insiders of the transaction, will have components of the Evo X innovative AWD system with the powertrain of the Lexus.
The car will be available as both a coupe and convertible (with a folding hard top). It seems that the powertrain will be naturally aspirated and Toyota will not be using the turbocharged version of IS-F engine, as predicted by some insiders.
Building the future on combined strengths
There will be immediate growth opportunities by using each other's
facilities, capacities and infrastructure. Product strategies will be
developed to enhance growth in mature markets as well as in Asia and other
emerging markets. Further synergies are expected to be realized in the medium term by
sharing know-how in engineering and manufacturing. The management expects
annual benefits of $ 3 bn (more than DM 5 bn) within three to five years.
Toyota-Mitsubishi will have a portfolio of strong brands covering most
product segments around the world which will be maintained and strengthened
through the combination of the businesses.
SOURCE Toyota Corporation; Mitsubishi Corporation
See 2nd to last paragraph for info on the next Supra....
thai.
-----------------------------------------
Merger Agreement Signed: Toyota and Mitsubishi Combine to Form the Leading Global Automotive Company
AUBURN HILLS, Mich., March 30, 2008
The following was released today by Toyota and Mitsubishi Corporation:
-- Mitsubishi chairman Yoichiro Okazaki : "World class products and brands complement each other"
-- Toyota chairman Yuri Kageyama : "Perfect fit of two
market leaders for further global growth"
-- Benefits of $ 1.4 bn expected in 2009 -- Annual benefits of $ 3 bn
expected to be reached in the next several years
-- No plant closures or lay-offs planned
-- Merger valued at $ 70 bn -- largest industrial merger second to only DaimlerChrysler merger in 1998
The transaction will create a world-class automotive corporation ranked in
the world's top three in terms of revenues, market capitalization and
earnings. The new company will still be called by their individual title, and jointly led by
Yuri Kageyama and Yoichiro Okazaki as Co-Chairmen and Co-Chief Executive
Officers, will be uniquely positioned to exploit the growth opportunities of the global automotive market in terms of
geographical and product segment coverage.
Changing the face of the industry
"The two companies are a perfect fit of two leaders in their respective
markets," said Yuri Kageyama, Chairman of the Management Board of
Toyota. "Both companies have dedicated and skilled workforces and
successful products, but in different markets and different parts of the
world. By combining and utilizing each other's strengths, we will have a
pre-eminent strategic position in the global marketplace for the benefit of
our customers. We will be able to exploit new markets, and we will improve
return and value for our shareholders. This is a historic merger that will
change the face of the automotive industry."
Mitsubishi Chairman Yoichiro Okazaki said, "Both companies have product
ranges with world class brands that complement each other perfectly. We will
continue to maintain the current brands and their distinct identities. What
is more important for success: Our companies share a common culture and
mission. We are both clearly focused on serving the customer by building
world class cars and trucks, we both have a reputation for innovation and
quality, and we are both committed to increasing value for our shareholders.
By realizing synergies and with our combined financial and strategic
strengths, we will be ideally positioned in tomorrow's marketplace."
With Toyota and Lexus, Toyota is the market leader in most of the world's premium car markets.
One of the prime benefit of this merger can be seen in the current development of the upcoming Toyota Supra.
In early 2006, Toyota started dropping some hints that a new Supra was in the works.
Toyota leaked a few pictures of future concept cars and many Internet websites and Supra message forums were abuzz.
Very few details have been offcially released about this new Supra, but Toyota-Mitsubishi officials hint that it will share components and
possibly designs with the Lexus IS-F and the Mitsubishi Lancer Evo X. The Supra, according to insiders of the transaction, will have components of the Evo X innovative AWD system with the powertrain of the Lexus.
The car will be available as both a coupe and convertible (with a folding hard top). It seems that the powertrain will be naturally aspirated and Toyota will not be using the turbocharged version of IS-F engine, as predicted by some insiders.
Building the future on combined strengths
There will be immediate growth opportunities by using each other's
facilities, capacities and infrastructure. Product strategies will be
developed to enhance growth in mature markets as well as in Asia and other
emerging markets. Further synergies are expected to be realized in the medium term by
sharing know-how in engineering and manufacturing. The management expects
annual benefits of $ 3 bn (more than DM 5 bn) within three to five years.
Toyota-Mitsubishi will have a portfolio of strong brands covering most
product segments around the world which will be maintained and strengthened
through the combination of the businesses.
SOURCE Toyota Corporation; Mitsubishi Corporation
