Nissan Diesel SA established itself as a fully-independent entity from Nissan SA and achieved a six per cent operating return on turnover in the past year, says Hiroshi Yokofujita.

Nissan Diesel SA established itself as a fully-independent entity from Nissan SA and achieved a six per cent operating return on turnover in the past year, says Hiroshi Yokofujita.

Last year, Nissan Diesel acquired the local truck division from Nissan SA in a deal worth about R300 million. CARtoday.com reported at the time that the investment took the form of a direct cash injection accompanied by the acquisition of stock, equipment and people to develop the new company, named Nissan Diesel South Africa. Nissan Diesel SA became a fully-fledged subsidiary of Nissan Diesel Motor Company Japan in July 2002.

Yokofujita, the chief executive officer of Nissan Diesel SA, earlier this month officially opened the company’s new facilities, a completely knocked down truck assembly operation with a fully-trimmed imported truck cab, near Pretoria.

Yokofujita said Nissan Diesel SA “had laid the foundation for the future during difficult economic times last year” and managed to achieve its market share projection for 2002.

“This year the economy, interest rates, the rand and the country’s traditional position in the world are looking very much more positive,” he was quoted as saying by .

Frans Cloete, the senior vice-president of Nissan Diesel SA, said the company achieve further growth this year on the back of a better economy and with clearly developed goals.

“In 2002 our dreams of achieving a major role for ourselves in the medium, heavy and extra heaving trucking sectors in South Africa were met, while at the same time we exceeded our operating profit target by a factor of four times,” Cloete said.

“I expect further market share growth for Nissan Diesel and at least a continuance of our operating profit return on turnover that we achieved in 2002”, he added.

Nissan Diesel Motor Company of Japan holds a 85,1 per cent of Nissan Diesel SA, with the remaining 14,9 per cent by Mitsui, a Japanese-based general trading company.