November 17, 2000
Nissan Announces Sale of ESTECH to MDI
Tokyo, November 17 -- Nissan Motor Co., Ltd. announced today that it has reached an agreement to sell its entire stake in ESTECH Corp. to Mechanical Dynamics, Inc. The transaction is expected to be completed on December 18th, 2000. Terms of the deal were not disclosed by either company.
ESTECH, established as a Nissan affiliated company in 1989, currently provides the consulting services, analysis and simulation mainly in the area of Noise, Vibration and Harshness for Nissan in vehicle design and engineering.
The new operation will continue to support this function within Nissan and its group companies.
As part of the Nissan Revival Plan, Nissan has committed to focusing on core business and is developing its and its group's information systems. This company has committed to returning to a net consolidated profit in fiscal year 2000, achieving an operating margin of at least 4.5 percent by fiscal year 2002 and reducing net consolidated automotive debt to less than 700 billion yen by fiscal year 2002.
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