Serves the Commercial Small Fleet Market of 10 – 50 Vehicles

Hino Trucks Announces New U.S.A. Organization

June 3, 2003

In a move aimed at increasing its presence in the US truck market, Hino Motors Ltd. has announced a restructuring of its distribution company, Hino Diesel Trucks (U.S.A.), Inc. (HDT). As part of this effort, Hino has entered into an investment agreement with PCP Holdings, Inc., a wholly owned subsidiary of Penske Corporation along with its existing partners in HDT, Mitsui & Co., Ltd., Mitsui & Co. (U.S.A.), Inc. A formal agreement was signed on May 24, 2003.HDT says it will build a nationwide sales and service network that will offer a new line of conventional medium duty trucks incorporating Hino Diesel engines and American produced driveline components.“This organization will offer products and services providing a new level of quality and dependability for the North American market,” said Mitsuo Kikuchi, president of HDT. “We want to introduce products and services that simply make better business sense for our customers.”As part of the new organization HDT has named Mr. Derek Kaufman as Sr. VP, sales, marketing and customer support. Mr. Kaufman brings 25 years of Heavy Transportation experience to Hino including customer-focused roles with Euclid, Freightliner and Penske Corporation. Hino Diesel Trucks (U.S.A.), Inc. is the U.S. distribution company for Hino Motors Ltd. of Tokyo, Japan. Based in Orangeburg, New York, the company sells and services Class 4,5,6 and 7 trucks.
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