Misplaced Pages

#635364

43-522: Mitsubishi Fuso may refer to: Fuso (company) Fuso Trucks America , formerly Mitsubishi Fuso Trucks America Mitsubishi Fuso Fighter , earlier models marketed as Mitsubishi Fuso in Indonesia Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title Mitsubishi Fuso . If an internal link led you here, you may wish to change

86-664: A memorandum of understanding with Hino and its parent Toyota for a plan of merging Hino and Fuso into a publicly traded holding company with "equal investment" from both Toyota and Daimler Truck. Fuso trucks are developed and built primarily at these Japanese facilities: Mitsubishi Fuso Canter work-trucks are manufactured in Indonesia, Egypt, Tramagal (Portugal), the Philippines, Venezuela, Turkey, and Russia. They are marketed in Japan, Europe, Australia, New Zealand, and

129-562: A $ 1 billion buyout offer for Remington Outdoor Company and thereafter was unable to find a satisfactory buyer. Cerberus continued to have ownership in Remington Outdoor Company, and CalSTRS announced its divestment from Cerberus' gun holdings in June 2015. In March 2018, Freedom Group, now known as Remington Outdoor Company , sought chapter 11 bankruptcy protection. Acquired a group of seven television stations using

172-574: A Dunstable, England-based provider of information technology systems for the retail, fuel and convenience stores and pub markets in the United Kingdom and Continental Europe that was acquired in June 2007, to MICROS Systems, Inc. In January 2013, it announced a deal to acquire 877 stores in the Albertson's, Acme, Shaw's and Star Market chains from SuperValu for $ 100 million and acquisition of $ 3.2 billion on SuperValu debt. In February 2014, it

215-681: A condition of the lender becoming a bank-holding company, when the bulk of GM's existing ownership stake in GMAC was placed into a trust, overseen by a trustee appointed by the Treasury, to be gradually dispersed. Cerberus distributed the majority of its stake in GMAC to its investors. The Federal Deposit Insurance Corporation (FDIC) gave GMAC access to the Temporary Liquidity Guarantee Program that allows companies to borrow money at lower interest rates. The initiative

258-564: A holding company known as Four Points Media Group , from CBS Corporation in 2007. On September 8, 2011, Cerberus announced the sale of these same seven stations to the Sinclair Broadcast Group for $ 200 million; this sale was completed on January 1, 2012. In 2007, Cerberus sold a holding in Formica, Inc. In the summer of 2007, Cerberus agreed to buy United Rentals , the world's largest equipment rental company that

301-615: A logo, they split the distribution of heavy and light machinery; Shin distributed light machinery branded as Mitsubishi, and Fuso distributed heavy machinery branded as Fuso. In 1970, MFHI signed a joint-venture agreement with Chrysler Corporation , establishing the Mitsubishi Motors Corporation (MMC), and MFHI transferred its motor-vehicle operations to MMC. In 1975, MMC opened the Nakatsu Plant at its Tokyo Motor Vehicle Works; five years later, it opened

344-650: A manufacturer of large-caliber tactical rifles, in August 2007. Cerberus also acquired DPMS Panther Arms on December 14, 2007. Remington Arms acquired Marlin Firearms in January 2008. In October 2009, Remington Military products acquired silencer manufacturer Advanced Armament Corporation. These companies were combined into the Remington Outdoor Company . Cerberus made plans to sell its share in

387-914: A net gain of $ 1.8bn. The company acquired MeadWestvaco's paper business for $ 2.3B in 2005 and renamed it NewPage . Cerberus also purchased, from Georgia Pacific Corporation , its Distribution Division/Building Products and all of its associated real estate. It renamed this new company BlueLinx Holdings , based in Atlanta . The Portuguese company TAP Portugal was bought by a consortium that included David Neeleman (Founder of Azul Linhas Aéreas Brasileiras, JetBlue Airways and WestJet) and Humberto Pedrosa. Cerberus owns IAP Worldwide Services, which bought Johnson Controls' World Services division in February 2005. Previously owned Multimax (purchased predecessor company in 2000 and Multimax in 2006; sold entire holding in 2007 to Harris Corporation). Cerberus owns Tier 1 Group ,

430-800: A number of other Asian countries, as well as in the United States. Fuso trucks are also manufactured in India at the Daimler India Commercial Vehicles plant in Oragadam , near Chennai . Those vehicles are sold in East Africa and Southeast Asia. Mitsubishi Fuso's European marketing and sales headquarters is in Stuttgart . The Mitsubishi Fuso Aero Star diesel-electric bus is being tested in Japan. According to

473-406: A parallel hybrid system with an electric Motor-generator on the transmission input shaft. This system maintains better efficiency gains at higher speeds. Outside Japan, vehicles manufactured by the corporation are sold in: https://www.truckinginfo.com/359173/mitsubishi-fuso-truck-of-america-discontinues-new-truck-sales Cerberus Capital Management Cerberus Capital Management, L.P.

SECTION 10

#1732793141636

516-561: A portfolio of single family rental homes to be managed by its affiliated company, FirstKey Homes, LLC; there are currently more than 6,000 homes in the portfolio. Cerberus purchased 655 of the 2,500 Albertson's, Inc. , grocery stores, forming Albertsons LLC of Boise, Idaho , in June 2006. It also had an ownership stake in the now-bankrupt Mervyn's department stores, which was acquired from Target Corp . In May 2012, Cerberus sold its holdings in Torex Retail Holdings, Ltd.,

559-545: A private company that provides military training. Through investment affiliate Cerberus Real Estate, the company has been making direct equity, mezzanine, first mortgage, distressed and special situation investments in all asset types. Cerberus also has a minority stake in Miami Beach -based LNR Property, a large real estate development and investment firm through subsidiary Riley Property. In October 2015 Cerberus completed an acquisition from Building and Land Technology of

602-620: A sacred tree said to grow at the spot in the east where the sun rises, and has been used to refer to Japan itself. The actual fuso tree is a hibiscus . In 1932, the first B46 bus (the Fuso ) was built at the Mitsubishi Shipbuilding Company's Kobe Works. Two years later (1934), the Mitsubishi Shipbuilding Company was renamed Mitsubishi Heavy Industries (MHI). Three years after that (1937), the MHI motor-vehicle operations at

645-407: Is a U.S. Securities and Exchange Commission Registered Investment Adviser. Investors include government and private sector pension and retirement funds , charitable foundations , university endowments, insurance companies , family savings and sovereign wealth funds. Cerberus is named after the mythological three-headed dog that guarded the gates of Tartarus. Feinberg has stated that while

688-697: Is active in private equity investment, lending, specialty finance, real estate investment, and securities trading. The firm's current investment portfolio includes more than 40 companies around the world with an average hold time of more than five years. Cerberus maintains the Cerberus Operations & Advisory Company LLC (COAC), which consists of senior operating executives supporting the firm's due diligence and assisting its portfolio companies. Cerberus utilizes an operations team of over 100 professionals to help source, analyze and monitor portfolio investments. Activities performed by members of COAC in

731-529: Is an American global alternative investment firm with assets across credit , private equity , and real estate strategies. The firm is based in New York City, and run by Steve Feinberg , who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia. Cerberus has around US$ 60 billion under management in funds and accounts. The company

774-588: The Cerberus name seemed like a good idea at the time, he later regretted naming the company after the mythological dog. Dan Quayle , former Vice President of the United States 1989–1993, who served under President George H. W. Bush , joined Cerberus in 1999 and is chairman of the company's Global Investments Division. Cerberus has grown to include 11 offices in nine countries. Cerberus's largest locations include New York City , Chicago , and Boise , Idaho . The company has been an acquirer of businesses over

817-563: The Chrysler as a condition of the US Treasury Department's bailout deal, but would retain its stake in Chrysler's financing arm, Chrysler Financial. Cerberus agreed to provide $ 2 billion to backstop a $ 4 billion December 2008 US Treasury Department loan given to Chrysler. In exchange for obtaining that loan, it promised many concessions including surrendering equity, foregoing profits, and giving up board seats. US Treasury and

860-826: The Kitsuregawa Proving Grounds. Four years after that, MMC merged with Mitsubishi Motor Sales Company. In 1985, MMC and Mitsubishi Corporation established the joint-equity company Mitsubishi Trucks of America in the United States. Eight years later, MMC and Chrysler dissolved their equity partnership. The following year, MMC and Mitsubishi joined to design, build, and distribute the Mitsubishi Lancer . In 1999, MMC and Volvo joined their truck and bus operations, and Volvo acquired 5% of MMC. Two years later, DaimlerChrysler, formed after Chrysler had merged with Mercedes-Benz owners Daimler-Benz, replaced Volvo as MMC's truck and bus partner and MMC renamed

903-935: The Kobe Works were transferred to the Tokyo Works. In 1949, the Fuso Motors Sales Company was established. In 1950, Mitsubishi Heavy Industries was split into three companies: Two years later (1952): Products from the companies were distributed by Mitsubishi Fuso Motor Sales because of brand recognition. In 1957, MNHI integrated the Tokyo and Kawasaki Works into the Tokyo Motor Vehicle Works. Seven years later (1964), these three companies merged to form Mitsubishi Fuso Heavy Industries; Mitsubishi Fuso Motors Sales split into two divisions: Shin and Fuso Motors Sales Company. Sharing

SECTION 20

#1732793141636

946-694: The Mitsubishi companies hold shares of 89 and 11%, respectively. In 2006, MFTBC moved its headquarters from Tokyo to Kawasaki-shi, Kanagawa; the following year, DaimlerChrysler sold its majority stake in Chrysler Corporation to Cerberus Capital Management . The corporation was renamed Daimler AG (now the Mercedes-Benz Group ) and the DaimlerChrysler Truck Group was renamed Daimler Truck, with MFTBC part of

989-629: The Obama administration recognized the "sacrifices by key stakeholders" in an effort to give Chrysler the "opportunity to thrive as a long-term viable 21st century company". Chrysler Financial, once the exclusive lending arm of the automaker, remained owned by Cerberus until April 2011. Chrysler Financial initially refused to take $ 750 million in Troubled Asset Relief Program (TARP) government bailout aid because executives didn't want to abide by executive-pay limits, and because

1032-626: The Remington Outdoor Company on December 18, 2012, after the Bushmaster AR-15 was used in the Sandy Hook Elementary School shooting . This decision was made due to a threat by the board of the California state teachers' pension plan , which owns a stake in the company, to dispose of stakes it holds in any firearms manufacturer that makes weapons banned by California state law. In March 2014, Cerberus rejected

1075-831: The Tokyo Plant the Truck and Bus Production Office (also known as the Kawasaki Plant). In 2003, the Mitsubishi Fuso Truck and Bus Corporation (MFTBC) was established. DaimlerChrysler, Mitsubishi Motors Corporation, and other Mitsubishi companies acquired 43, 42. and 15% shares, respectively, in MFTBC. In 2005, Mitsubishi Motors Corporation transferred its MFTBC shares to DaimlerChrysler as part of their compensation agreement for financial damages resulting from quality problems and recalls at MFTBC. DaimlerChrysler and

1118-462: The U.S. Treasury that it would contribute its equity in Chrysler automotive to labor and creditors as currency to facilitate the accommodations necessary to affect the restructuring." On April 30, 2009, Chrysler declared bankruptcy protection and announced that GMAC would become the financing source for new wholesale and retail Chrysler cars. On March 30, 2009, Cerberus Capital Management announced that it would voluntarily give up its equity stake in

1161-529: The U.S. government. Five days earlier, the Federal Reserve granted GMAC bank holding company status, so it could get access to the bailout money. On December 29, 2008, the U.S. Treasury gave GMAC $ 5 billion from its $ 700 billion Troubled Asset Relief Program (TARP). (On May 21, 2009, the US Treasury department announced it would invest an additional $ 7.5 billion in GMAC, and on December 30, 2009,

1204-408: The US Treasury department said that they would invest another $ 3.8 billion in GMAC because the company had been unable to raise additional funds in the private sector. This raised the total government investment in GMAC to $ 16.3 billion.) Cerberus's investments in Chrysler and GMAC totaled about 7% of its assets under management. At the end of May 2009, Cerberus scaled back their ownership of GMAC as

1247-486: The area of control private equity investments, include due diligence, acquisition planning, board membership, special project staffing and, where appropriate, occupying interim or full-time open positions. In December 2004, the company announced the acquisition of Bayer 's plasma products business and renamed it Talecris Biotherapeutics. It purchased Talecris for $ 83m, and sold the bulk of its shares in October 2009, for

1290-416: The auto and home lender seeking federal aid, hasn't obtained enough capital to become a bank holding company and may abandon the effort, casting new doubt on the firm's ability to survive. A $ 38 billion debt exchange by GMAC and its Residential Capital LLC mortgage unit to reduce the company's outstanding debt and raise capital hasn't attracted enough participation.” GMAC's exposure to the gap in residual values

1333-563: The auto maker's performance by operating as an independent company. In 2008, the plan collapsed due to an unprecedented slowdown in the U.S. auto industry and a lack of capital. In response to questioning at a hearing before the House committee on December 5, 2008 by Rep. Ginny Brown-Waite, Chrysler President and CEO Robert Nardelli said that Cerberus' fiduciary obligations to its other investors and investments prohibited it from injecting capital. "In order to achieve that goal Cerberus has advised

Mitsubishi Fuso - Misplaced Pages Continue

1376-419: The clear language contained in the deal agreement that capped its liability for not completing the transaction at $ 100 million. After a two-day trial, Delaware Chancellor William B. Chandler, III, ruled in favor of Cerberus, writing in his ruling that "URI knew or should have known what Cerberus' understanding of the merger agreement was." In a statement, Cerberus said it was "gratified" by the court's ruling and

1419-504: The company, it can reduce fuel consumption by as much as 30%. The Aero Star uses a series hybrid drive, where its diesel engine drives an electric generator to recharge lithium-ion batteries connected to the two electric motors with a combined output of 158 kW, which propel the vehicle. Series hybrids are efficient on urban buses. Opposed to the buses the Mitsubishi Fuso Canter Eco Hybrid uses

1462-1406: The firm doesn't necessarily need the money. In January 2009, Chrysler Financial was the recipient of $ 1.5 billion from the Troubled Asset Relief Program. The company said that it used the money to fund 85,000 loans to purchase Chrysler automobiles. Chrysler Financial repaid all of the TARP loan in July 2009 by raising funds from an asset-backed securitization through the Term Asset-Backed Securities Loan Facility program. In December 2010, Cerberus agreed to sell certain assets of Chrysler Financial to TD Bank Group for $ 6.3 billion in cash, retaining approximately $ 1 billion in Chrysler Financial assets. This transaction, which closed in April 2011, allowed Cerberus to recover virtually all of its investment in Chrysler. Advantage Hire Thinking (formerly known as Radia International). Cerberus acquired 51% of GMAC, General Motors ' finance arm, in 2006 for $ 7.4 billion. It appointed Ezra Merkin as nonexecutive Chairman. On December 10, 2008, GMAC said, "GMAC LLC,

1505-403: The it. On May 27, 2020, Mitsubishi Fuso Truck of America announced it is discontinuing new truck sales. The move is a result of a re-evaluation by Mitsubishi Fuso Truck and Bus Corp. of its business situation in the United States and Canada, according to the announcement, as the company shifts to a service-focused operation in these markets. In May 2023, Fuso and its parent Daimler Truck signed

1548-442: The link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Mitsubishi_Fuso&oldid=1259233708 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Fuso (company) Fuso derives from the ancient Chinese term fusang ( 扶桑 ), for

1591-417: The past several years and now has investments in financial services, healthcare, consumer & retail, government services, manufacturing & distribution, technology & telecommunications, building products, energy & natural resources, apparel, paper, packaging & printing, transportation, commercial services, industrial & automotive, real estate, travel & leisure, and weaponry. The firm

1634-404: Was around $ 3.5 billion. In December 2008, Cerberus subsequently informed GMAC's bondholders that the financial services company may have to file for bankruptcy if a bond-exchange plan is not approved. The company had previously said it may fail in its quest to become a bank holding company because it lacks adequate capital. In January 2009, Merkin resigned from his chairmanship as a condition by

1677-951: Was closing one of their mortgage companies, Aegis Mortgage. It owned half of a 9.9% share (5%) with the Gabriel Group in Bank Leumi, purchased in 2005, but as of April 19, 2009, it was decided to sell in order to boost capital. Cerberus also has a controlling interest in Japanese bank Aozora. In Australia, Cerberus purchased Bluestone Mortgages (specialist mortgage lending and servicing) in 2018, Angle Finance (equipment finance) in 2019 and Westpac Group's Strategic Alliances (Vendor Finance) in 2020. Cerberus acquired Bushmaster Firearms International , from Windham, Maine native Dick Dyke for an undisclosed sum in April 2006, and purchased Remington Arms in April 2007. Under Cerberus's direction, Bushmaster Firearms acquired Cobb Manufacturing,

1720-675: Was completed in July 2005. AerCap completed its IPO in 2006. Cerberus also acquired North American Bus Industries , Optima Bus Corporation , and Blue Bird Corp. in the bus manufacturing sector. (Cerberus sold its commercial bus manufacturing assets to New Flyer Industries in 2013 but retained the Blue Bird school bus production line.) Peguform (acquired by Cerberus in 2004 and sold it to Polytec four years later), GDX Automotive (owned by Cerberus until 2011), and Chrysler . In 2007, Cerberus and about 100 other investors purchased an 80% stake in Chrysler for $ 7.4 billion seeking to bolster

1763-517: Was created in October 2008 to help banks borrow money by promising to repay investors if the banks defaulted. The U.S. Government also waived a rule that would restrict the amount of loans that GMAC could make to Chrysler's customers and dealers because both firms are owned in part by Cerberus Capital Management. In December 2006, Cerberus acquired the Austrian bank BAWAG P.S.K. for a reported EUR3.2 billion. In August 2007, Cerberus announced that it

Mitsubishi Fuso - Misplaced Pages Continue

1806-914: Was reported that Safeway Inc was in advanced talks with private equity firm Cerberus Capital Management LP over a leveraged buyout deal. After integrating the Safeway purchase, on October 14, 2022 Kroger announced it would be acquiring Albertsons for $ 25 billion, combining the largest and second-largest supermarket chains in North America. Acquired bankrupt ANC Rental, then owner of the National and Alamo car rental chains, for $ 230 million in October 2003, and subsequently sold to Enterprise Rent-a-Car in 2007. Purchased DaimlerChrysler 's 45% share of debis AirFinance, an aircraft leasing business, in May 2005. Acquisition of debis AirFinance (later renamed AerCap)

1849-526: Was traded on the NYSE. After the credit markets began to tighten in August, Cerberus decided not to make the acquisition, agreeing to pay United Rentals a $ 100 million "reverse termination fee" that the parties had negotiated and included in their agreement. United Rentals sued in the Delaware Court of Chancery for specific performance (i.e., a court mandate that Cerberus complete the deal). Cerberus cited

#635364