Mitsubishi enters Russian lease market
The Mitsubishi Corporation (MC) has acquired IAL Finance, which has been providing fleet management and operating lease services in Russia since its foundation in 2004.
IAL Finance was the first company to provide full-service lease in Russia. It currently manages a fleet of more than 4,000 vehicles, at more than 150 locations throughout Russia via 7 regional offices in large Russian cities.
As a result of the takeover, the company will henceforth be known as MC Intermark Auto. With its extensive business operations in Russia, MC will be able to support the expansion of MC Intermark Auto's offering of mobility solutions on the Russian market.
“(The acquisition will) increase our competitiveness, flexibility and innovativeness, not to mention our recognition in the market,” says Leonid Sysoev (pictured), CEO of the renamed company. “We're very excited to build new functions and businesses in the rapidly growing 'mobility service' area.”
MC Intermark Auto is MC's fifth company in the automotive/mobility domain in Russia. The other three subsidiaries are MMC Rus (distribution), MC Bank Rus (customer finance) and Autospot (e-commerce).