Yamaha Motor, Yanmar Diesel to set up boat manufacturing jv in mid-April

28 March 2002

Yamaha Motor Co Ltd said it has agreed with Yanmar Diesel Engine Co Ltd to set up a joint venture for the manufacture of pleasure boats and fishing boats using fiber-reinforced plastics.

The joint venture will be set up on April 15. Yamaha said the new company, Y2 Marine Manufacturing Co Ltd, will be capitalised at 10 mln yen, with Yamaha Amakusa Manufacturing and Yanmar Shipbuilding & Engineering Co Ltd taking stakes in the new company. The new company will aim to post 8 bln yen in sales in the year to March 2004, it said.

""The joint venture will help cut costs through sharing each other's facilities and joint procurement of materials,"" Yamaha said in a statement.

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