Mitsubishi Fuso

Prime Minister of Portugal visits Mitsubishi Fuso operations

    Tramagal, Portugal (ots) -

    - Plant in Tramagal to be expanded to support leading Japanese
        truckmaker's offensive in Europe
    - 100,000 vehicles manufactured to date.

    On the occasion of the visit of the Prime Minister of Portugal, Dr. Durao Barroso, to the Portuguese plant of Mitsubishi Fuso in Tramagal, central Portugal, on Wednesday, July 15, the company announced major expansion plans designed to boost its presence in Europe medium-term. The plant, situated 150 kilometres northwest of the capital Lisbon, is a vital element of Mitsubishi Fuso's strategy to increase its market share in Europe. The Tokyo-based commercial vehicle manufacturer, No 1 in Japan and leading in other Asian markets, recently announced plans to increase international business by 20% within the next five years.

    Portugal's Prime Minister Barroso attended a celebration on the occasion of the 100,000 th vehicle that was manufactured by the plant since commencing production of Mitsubishi vehicles in 1980. Mr. Barroso offered his congratulations and also welcomed the further expansion plans as a source for additional jobs and growth. It was also an excellent substantiation that investment conditions in Portugal are among the most attractive in Europe, the Prime Minister said. He was received by Takashi Usami, Chairman of Mitsubishi Fuso Truck & Bus Corporation (MFTBC) and by Wilfried Porth, President and C.E.O. of MFTBC, and also the management of the plant in Tramagal.

    The Mitsubishi Fuso Portuguese plant was established in 1964 and has produced Mitusbishi vehicles since 1980. Initially, the models Canter, Fuso, L200, L300, and Pajero, were manufactured only for the local market. From 1996, the commercial vehicles produced there were exported to other European markets. The 100,000 th vehicle that left the plant on this occasion was a Mitsubishi Canter, a generation of light commercial vehicles that are exported to all European markets.

    The company announced to increase capacity from 15,000 to 17,000
units a year, with an investment of Euro 35 million and a
proportional increase of the number of employees within the next five
years. This will also benefit the 35 national suppliers, responsible
for about 50 per cent of total components manufactured in Europe.      
With the Portuguese operation, Mitsubishi Fuso ranks among the 20
biggest Portuguese exporters and is the biggest employer in central
Portugal. The company looks back on a prosperous period and also
enjoys the backing of Portuguese authorities, among them Agência
Portuguesa de Investimentos (API).

    Mitsubishi Fuso is Asia's premier commercial vehicle company, with a number 1 market shares in Japan, Indonesia and other Asian markets. Built on over 70 years of rich heritage and a track record of superior customer focus, the company employs 16,000 people worldwide and reported sales revenues of EUR6 billion in fiscal year 2002/2003 (End March 2003). Mitsubishi Fuso is committed to expand its leadership with the benefit of the company's alliance with DaimlerChrysler established in 2003. Main shareholders are Mitsubishi Motors (42%), various Mitsubishi group companies (15%) and DaimlerChrysler (43%).

ots Original Text: Mitsubishi Fuso Internet: http://www.presseportal.de

For further information internationally, please contact: Roland Klein +44 777 616 2997 Or Gerry Elias +44 787 966 6166



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