Nissan Motor Corporation announced the establishment of a subsidiary in Argentina after completing the acquisition of the company that had been its distributor in the South American country.
In a statement, the multinational said that Nissan Argentina, its importer and commercial partner since 2012, has become “a fully-owned Nissan Group subsidiary.”
“The change in the business model to a direct subsidiary results from Nissan’s intent to become a producer in the country, and to directly manage sales and distribution in Argentina in support of its plans for long-term growth in Latin America,” the company said.
In April, Nissan announced it would build a $600 million plant in Argentina to manufacture pickup tracks starting in 2018, creating 1,000 new jobs in the process.
“Through this effort in Argentina, the company becomes closer to clients and distributors in a market of great potential for Nissan,” said Jose Luis Valls, the head of Nissan Latin America and the Caribbean.
The Argentine subsidiary will handle all corporate functions, including imports and commercial operations.
Date: September 25, 2015