Sumitomo Corporation will invest ¥1.2 billion in CIMC Vehicles (Group) Co., Ltd. by purchasing shares to be newly issued. The two companies have signed a joint-venture agreement that includes the aforementioned capital contribution. CIMC Vehicles manufactures and sells industrial special-purpose vehicles, such as trailers, mainly in China, North America, Europe and Australia.

The company is particularly strong in semitrailers, boasting the worlds top position with a 10% global share. For fiscal 2015, it expects to sell a total of more than 120,000 units. Establishing a next-generation-type largely computerized plant, the enterprise is actively working to boost its competitiveness through reduced cost and improved quality, with an aim to expand its presence in emerging markets in Southeast Asia, the Middle East and Africa.