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Isuzu: Isuzu Motor
built 816 days ago
Isuzu is mainly a Japanese commercial vehicle and heavy truck manufacturer company. However, it is best known in the U.S. for its automobiles and SUVs. In 2005, Isuzu was the world's largest manufacturer of medium duty trucks around the world. And in 2003, Isuzu produced over 16 million diesel engines for various trucks. In addition to making trucks of all sizes, from 1953 to the current day Isuzu manufactures passenger vehicles in close cooperation with General Motors.
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The experience and know-how of Anadolu Isuzu dates back to the Çelik Montaj, which was established in 1965 to build pick-ups and motorcycles. The company continued to produce Skoda pickups until the end of 1986. In 1984 the company started to produce Isuzu vehicles in Istanbul Kartal Plants.
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May 2005, Isuzu stock surges on the announcement that they will redeem $481.2 million worth of convertible bonds, 14 months ahead of their maturity. Goldman Sachs brokerage has raised Isuzu Motor's rating from "In-Line" to "Outperform".
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The Company, through its wholly owned Subsidiary, PT Arya Kharisma, holds a controlling interest in PT Pantja Motor (PM), the sole importer and agent of Isuzu vehicles in Indonesia. The Isuzu product range consists of the Panther product and heavy trucks. Panther is a diesel engine light commercial vehicle, assembled by PT Pulogadung Pawitra Laksana, a wholly owned Subsidiary of the Company, capable of assembling 36,000 units per annum.
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April 11, 2006, Isuzu is now free of General Motors! In a Reuters story, GM has stated that they are selling their remaining 7.9% stake as follows: 3.5% will be purchased by Mitsubishi Corp., 3.5% will be purchased by Itochu Corp., and .9% will be purchased by Mizuho Corporate Bank. GM will sell its 89 million shares for $300 million, based on the average price of the stock in the last thirty days, which is 10% lower than the current market value.
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