Suzuki Takes 50% Stake in Russian Importer

VIENNA – Suzuki Motor Corp. purchases a 50% stake in its Russian importer, OOO ITC Auto RUS.

Following the official registration of the deal, the company’s name will be changed to OOO Suzuki Motor Rus in April.

ITC Auto RUS, a subsidiary of Itochu Corp., was founded in 2005 to import Suzuki products. Itochu has been responsible for Suzuki distribution activities in Russia for more than a decade.

Suzuki was to construct a car factory in Shushary, Russia, near St. Petersburg, but cancelled those plans as a result of the global economic crisis. The plant was scheduled to launch production of the Grand Vitara SUV and SX4 sedan in 2009.

Suzuki sold 25,335 vehicles in Russia in 2009, down 33.9% from 2008.

Through February, 3,394 vehicles have been delivered this year, up 9.2% from like-2009.