Mitsubishi to Sell Sheet Metal Subsidiary

Car manufacturer Mitsubishi Motors have announced that they intend to sell their wholly owned sheet metal processing company Ryowa Sheet and Metal Processing Co. Ltd to Futaba Industrial Co. The deal is expected to take place before the end of March 2004.

Futaba is already a major supplier to car industry. By becoming part of the Futaba organisation, Ryowa expect to be able to better concentrate resources on increasing overall competitiveness.

Mitsubishi Motors also hope to benefit from Ryowa’s increased competitiveness.

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