Ford Motor Co., America’s No. 2 automaker, said on Thursday that it is cutting its ownership stake in Japanese automaker Mazda Motor Corp. to 3.5 percent, from its current position as Mazda’s single biggest shareholder.
Ford is currently Mazda’s biggest single shareholder, at 11 percent. Ford will sell its shares to Mazda’s partners via auction, according to the Hiroshima, Japan-based Mazda.
Mazda and Ford’s current strategic partnership and technology sharing will still be in place.
“Ford will remain one of Mazda’s largest shareholders with a 3.5 percent stake, and both companies are committed to continuing our strategic partnership, which spans over 30 years,” said Mazda’s president and CEO, Takashi Yamanouchi, in a statement.
“Mazda and Ford will continue to collaborate on areas of mutual benefit such as key joint ventures, joint projects, and exchange of technology information.”
Ford and Mazda have had a long history of collaboration since 1969, when the companies formed a joint-venture to develop automatic transmission technologies. Ford slowly increased its stake in Mazda, to more than 33 percent by 1996. The company has slowly cut its ownership percentage since then.
Currently, the companies share some platforms and technologies. The new Ford Fusion is partially developed on the Mazda6 platform, and the Ford Fiesta and Mazda2 subcompact share a platform as well.
In the U.S. market, Mazda is best recognized for its “Zoom Zoom” marketing campaign, and its vehicles are known for their sporty handling.
The transaction will complete on Friday.
Ford is currently Mazda’s biggest single shareholder, at 11 percent. Ford will sell its shares to Mazda’s partners via auction, according to the Hiroshima, Japan-based Mazda.
Mazda and Ford’s current strategic partnership and technology sharing will still be in place.
“Ford will remain one of Mazda’s largest shareholders with a 3.5 percent stake, and both companies are committed to continuing our strategic partnership, which spans over 30 years,” said Mazda’s president and CEO, Takashi Yamanouchi, in a statement.
“Mazda and Ford will continue to collaborate on areas of mutual benefit such as key joint ventures, joint projects, and exchange of technology information.”
Ford and Mazda have had a long history of collaboration since 1969, when the companies formed a joint-venture to develop automatic transmission technologies. Ford slowly increased its stake in Mazda, to more than 33 percent by 1996. The company has slowly cut its ownership percentage since then.
Currently, the companies share some platforms and technologies. The new Ford Fusion is partially developed on the Mazda6 platform, and the Ford Fiesta and Mazda2 subcompact share a platform as well.
In the U.S. market, Mazda is best recognized for its “Zoom Zoom” marketing campaign, and its vehicles are known for their sporty handling.
The transaction will complete on Friday.
Friends Read Free