OREANDA-NEWS. ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it has signed a memorandum of understanding with three companies with a view to creating a comprehensive and strategic cooperation. The three companies are RUSSIAN MACHINES (headquartered in Moscow, Russian Federation), which develops and expands machine building business under BASEC ELEMENT group in Russia (headquartered in Moscow, Russian Federation); GAZ GROUP, the Russian largest commercial vehicle manufacturer (hereinafter “GAZ”); and Isuzu Motors Limited (headquartered in Shinagawa-ku, Tokyo; Masanori Katayama, President & CEO; hereinafter “Isuzu”).

Moving forward, ITOCHU will collaborate in all aspects related to the supply and installation of Isuzu-manufactured engines and other major components in the main vehicle models manufactured by GAZ, which produces and sells approximately 100,000 commercial vehicles in Russian market.

In addition, the company will investigate possibility for sales of the vehicles equipped with Isuzu engines and components, which are jointly developed by GAZ and Isuzu, through the ITOCHU’s sales network.