Sumitomo Corporation launched joint venture in Thailand with China International Marine Containers (Group) to make chassis of trailer for ocean transport container. The venture constructs the plant in Rayong completing the work in October. CIMC is Chinese major company for container and transport. Sumitomo Corp. established joint venture in Qingdao with CIMC and Fuji Heavy Industries June 2007 to make environmental service vehicle and equipments. Sumitomo Corp. tries to expand the tie-up with CIMC to Thailand and Southeast Asia through the new joint venture. CIMC controls 82% of the new joint venture with 260 million baht of capital with 18% share by Sumitomo Corp. The venture, which plans to make 780 units of chassis in 2008, already got 580 units of order. The venture, which now imports parts from China to assemble in Thailand, will expand the items to chassis for tank trailers, cement mixer and pumping vehicle after completion of the new plant.
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