Nissan Motor Co. said Wednesday that it will sell its plastic fuel tank operations in Japan to Solvay Automotive Asia, K.K., a Japanese subsidiary of international pharmaceutical and chemical group Solvay S.A.
Nissan currently produces plastic fuel tanks at three locations in Tokyo, Fukuoka and Kanagawa prefectures.
As part of its ongoing cost-reduction efforts, Nissan will hand over two plants in Fukuoka and Kanagawa prefectures to Solvay Automotive, with actual transfer taking place between Nov. 1 and April, Nissan officials said. The company refused to disclose revenue from the sales.
Brussels-based Solvay group and Plastic Omnium, a French plastic-processing company, integrated their plastic fuel systems operations and created a plastic fuel tank maker, Inergy Automotive Systems, in France on Tuesday. Solvay Automotive Asia will become an affiliate of the new company.