Mazda and Mitsubishi Jointly Establish New Energy Supply Company

Tokyo (JCN) Jan 19, 2006 - Mazda Motor and Mitsubishi Corporation jointly announced on January 18 that they have established an energy supply company, MCM Energy Service Company.

The joint venture, which is capitalized at 100 million yen ($870,000) and headquartered on the premises of Mazda's headquarters in Hiroshima, will provide electricity and thermal energy to Mazda's plants on the headquarters compound as well as in Hohu.

The new company will take over the operations of Mazda's existing power generation facilities and also construct new facilities at Mazda's headquarters plant. The new facilities are to be fully operational in April 2008.

As well as providing energy to Mazda's plants, the new company plans to sell a part of electricity to electric power companies.

By Aki Tsukioka, JCN Staff Writer