Pang Da Automobile Trade Co Ltd to Set up Joint Venture with Fuji Heavy Industries Ltd

Pang Da Automobile Trade Co Ltd announced that it has signed a contract with Fuji Heavy Industries Ltd (Fuji), to set up a joint venture in China. The Company and Fuji will respectively invest JPY 1.18 billion and JPY 1.77 billion, to hold a 40% and a 60% stake in the joint venture, which will be with a registered capital of JPY 2.95 billion and be engaged in the import and distribution of SUBARU vehicles, import, export and wholesale of auto parts and products, as well as provision of marketing service, after services, technical and maintenance advisory and training.