|Chile, December 14, 1998 --- Honda Motor Co., Ltd. issued the following
News Release in Chile on December 11, 1998 local time.
Honda Motor Co., Ltd. has announced that it is establishing a local sales
subsidiary in Chile. Honda Motor de Chile S.A. will import and sell Honda motorcycles
and automobiles, as well as power products, with operations due to commence in
The new company is being established as a joint venture between Honda Motor
Co., Ltd. and Tecfin C.P.A., a local import agent for Honda products. The joint
venture contract was formally signed at a ceremony held on December 11, with both
Honda Deputy President Mr. Koichi Amemiya and Tecfin Sales Division Manager Sr.
Andres de Carsel in attendance.
Honda started selling motorcycles in the Chilean market as far back as 1973,
using Tecfin as its local import agent. Also through Tecfin, Honda began selling
power products, such as generators, in Chile in 1978, and automobiles in 1983.
As one part of its plans to strengthen operations in the South American market,
which is expected to record growth in the years ahead, Honda has decided to establish
sales companies in Chile as well as Argentina.
Outline of the sales joint venture in Chile
|Name of company:
||Honda Motor de Chile S.A.
||Ken Matsuoka, President
|Location of head office:
||Honda Motor Co., Ltd.: 75%
Comercial Tecfin Ltda. C.P.A.: 25%
|Number of employees:
|Nature of business:
||import and wholesale of Honda motorcycles, automobiles, power products
|Commencement of operations: