Daihatsu Motor Co., Ltd. (Daihatsu) has decided to dissolve the joint business formed with FAW Jilin Automobile Co., Ltd. (FAW Jilin Auto) to establishthe body parts manufacturing company FAW Daihatsu (Jilin) Body Parts Co., Ltd. (FDJB). Daihatsu’s decision to transfer its 50-percent stake in FDJB to FAW Jilin Auto, effective from January 4, 2010, was based on the change in the framework of Daihatsu’s business in Jilin City, China*.

The decision to transfer all management rights of FDJB to FAW Jilin Auto was reached after talks between Daihatsu and FAW Jilin Auto, with the aim being to have FAW Jilin Auto display the comprehensive strengths of the FAW Group and for Daihatsu to improve management efficiency by consolidating its management resources. FDJB will continue to manufacture body parts after the dissolution of the joint venture, in its new role as a subsidiary of FAW Jilin Auto.

In addition, in order to continue the technology licensing agreement, no changes will be made in the partnership between Daihatsu and FAW Jilin Auto with regard to the provision of parts and other activities.

Source: http://www.daihatsu.com/news/n2010/10010701/index.html

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