Yoma Strategic, Mitsubishi team up to deal in Bridgestone tyres in Myanmar
Published on Jul 8, 2014 3:44 PM
SINGAPORE - Yoma Strategic Holdings, through its 70 per cent-owned subsidiary, Myanmar Motors, has teamed up with Mitsubishi Corporation to provide sales support for Bridgestone tyres in Myanmar.
Under the deal, Mitsubishi will hold 70 per cent of the joint venture company, First Japan Tire Services Company, with the balance held by Myanmar Motors.
The other 30 per cent of Myanmar Motors is owned by First Myanmar Investment Co, an affiliate of Yoma, which is part of the Serge Pun & Associates' (Myanmar) enlarged group of companies (SPA Group).
Mitsubishi and SPA Group signed a business alliance memorandum of understanding last October to jointly explore business opportunities in Myanmar, including automotive service and elevator-related businesses.
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