Business Services Industry
Isuzu Will Sell Stake in Lafayette, Ind., Plant to Partner Subaru.
Knight Ridder/Tribune Business News, October, 2002
By Ted Evanoff, The Indianapolis Star Knight Ridder/Tribune Business News
Oct. 26--Isuzu Motors Ltd. pushed into the U.S. market in the 1980s with an ambitious plan for its rugged sport-utility vehicles to captivate outdoor lovers.
In less than a decade, the trucks rolling off the new Lafayette assembly line were surpassed by rivals' nimble and less expensive sport-utes.
Crushed in the U.S. market, Isuzu retreated Friday, announcing it will sell its 49 percent share of the Lafayette plant to partner Subaru and contract with Subaru for 30,000 Isuzu models next year.
The deal, part of a major restructuring by ailing Isuzu in Tokyo, will cost an estimated 200 jobs at Subaru-Isuzu Automotive Inc., the Lafayette plant called SIA....
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