Ralliart Inc Ceases Activity
Mitsubishis Ralliart inc has scaled down its activities after financial problems.
The High performance and motorsport division of Mitsubishi has announced that it will be ceasing the majority of its business activities. The move comes as the company struggles to make it through the recession.
The Japanese based company, which had revenues of just under £3.8 million in 2005, has stopped its support to motorsport costumers, ceased new planning development and merchandizing, and stopped giving information on products and other services.
President of Ralliart inc, Masao Taguchi said; “Because of the sudden change of economic situation since the year before last, the business circumstances surrounding our company have become radically worse off. As a result we have reached a conclusion that we Ralliart inc, would scale down our business activities as of the end of March 2010.”
The company which was established in 1984 and supported high profile motorsport teams. It has a presence in the Dakar Rally, the World Rally Championship and the Australian Rally Championship. It provided services to motor competitors all over the world.
Mr Taguchi in speaking to motorsport fans urged them to keep supporting Mitsubishi teams and thanked people for their “patronage to our company”