Mazda has signed a memorandum of understanding on the purchase of the Mazda distribution business in Switzerland from the Blanc family and Sumitomo Corporation, the shareholders of Mazda (Suisse) SA. A formal agreement is expected to be executed in October.
Jan Brentebråten, president of Mazda Motor Europe, said: "This a further significant step in implementing Mazda's strategy of taking control of distribution in those markets where direct manufacturer involvement is most appropriate to maximise growth opportunities.”
With the acquisition of the Swiss distribution business Mazda will already have more than achieved its strategic objective to control 70% of its European distribution network by the end of 2001, following the launch of new wholly-owned subsidiaries in the UK, in August, and France, in April. Similar operations were established in Spain and Italy during 2000 to join the long-established Mazda-owned distribution companies in Germany and Portugal.