MBM Resources Berhad (MBM) recently announced that its wholly-owned subsidiary, F.A. Trucks Sdn Bhd (FATSB), had entered into a distributorship agreement with Iveco S.p.A. for the former to exclusively distribute IVECO commercial vehicles in Malaysia. FATSB will also be a non-exclusive distributor for vehicle service and the sale of IVECO spare parts.
Headquartered in Turin, Italy, IVECO was formed in 1975 through a merger between five European brands, and is a big name in trucks and buses. Now owned by CNH Industrial Group, it employs 26,000 people and has manufacturing facilities in 11 ountries throughout Europe, Asia, Africa, Oceania and Latin America, with JVs in China, Russia and South Africa.
IVECO will compete in the commercial vehicle segment dominated by Toyota and Isuzu. Other major players in the bus and truck arena are Mercedes-Benz, MAN, Scania, Volvo, Mitsubishi Fuso and Hino. MBM is behind the latter, and is also a major shareholder in passenger vehicle market leader Perodua (20% direct stake, 5% via subsidiary Daihatsu Malaysia Sdn Bhd). It also owns Federal Auto, an old name synonymous with Volvo cars.