OREANDA-NEWS. January 16, 2013. Mitsubishi Corporation (MC), Mitsubishi Motors Corporation (MMC) and the Rolf Group, are pleased to announce their agreement to reorganize the capital structure of Rolf Import, MMC's distributor in Russia, by incorporating investments from MMC.
 
Under this agreement, MC and MMC each acquire 9% of Rolf Import's shares. The transaction results in MC, the Rolf Group and MMC holding 49%, 42% and 9% of shares respectively in the new Rolf Import.
 
The Russian automobile market has recovered from the Lehman Brothers collapse and 2012 saw the highest number of new vehicles ever sold in Russia with approximately 2.9 million units sold. The market is expected to expand further over the medium to long term against the backdrop of stable economic growth in Russia. MMC vehicles, mainly its SUV models, maintain a good sales position in this market, with 74 thousand new units sold in 2012.
 
The Rolf Group has been operating the MMC car sales and distribution business in Russia since 1992. In 2004, the MMC related business was transferred to Rolf Import, to specialize in MMC cars only. MC joined the partnership in 2009, and improvements in management, sales and distribution have resulted in sales growth and creation of a strong brand image together with Rolf Group. MMC's participation will improve product planning and allow quicker response to market needs, ultimately expanding sales in an increasingly competitive Russian market.
 
Placing Russia as one of its most important markets, MMC established a factory in Russia's Kaluga province in May 2008 together with PSA Peugeot Citroлn. It began full-scale manufacturing of the brand-new Outlander in November 2012. MMC plans to increase the range of models manufactured in Russia, including the Pajero Sport. Through the investment to Rolf Import, MMC will promote its business by consolidating production and marketing function.