Nissan Motor Company Ltd. on May 13 announced the beginning of a feasibility study to spin-off its Industrial Machinery Division.
The aim of this feasibility study is to strengthen the division's autonomy and create a flexible management for a sustainable growth in the forklift business, to cope with the challenging environment surrounding the forklift industry. The new company will be wholly owned subsidiary of Nissan Motor Company Ltd., thus maintaining the group synergies.
As Nissan intends to finalize the spin-off within FY 2010, they will start preparations of the spin-off arrangements simultaneously with the feasibility study. Further announcements will be made as soon as details of the spin-off are decided.
| Location: | Global Headquarter - Yokohama, Engineering Office - Zama |
|---|---|
| Outline of business: | Produce and sales of forklift trucks, industrial engines |
| Establishment of division: | 1957 |
| Place of Production: | Japan, USA, Spain, Sweden |
| Turnover:(FY2009 Actual) | JPY 61.3 billion/US$ 659 million* |
| Number of Employees: | Approx. 2,520 (including subsidiaries, as of April 1st, 2010) |
| *Foreign exchange rate: 1USD = 93.04JPY, as of March 31st , 2010 | |