— Mitsubishi Motors today announced the conclusion of a sales contract between itself and Mitsubishi Heavy Industries, Ltd. concerning a portion of the first land and buildings of the Oye factory in Nagoya. The property sold measures 115,374 square meters, except for a portion that has been leased to Tochigi Fuji Industrial, as well as a building and a distribution depot that Mitsubishi Motors continues to utilize. The value of the sale is approximately 4.4 billion yen, which comprises the value of the land and buildings.
Due to its closure in September, 2001 as a part of production reorganization, and also since the assembly line was transferred to the Okazaki factory, this site was an unutilized asset. Mitsubishi Heavy Industries is expected to use the facility in the construction of a new airplane factory.
Mitsubishi Motors has had the soil inspected in compliance with Nagoya City environmental protection regulations, and has reported the contents concerned to local authorities on October 26th in 2004 with regard to the sale. There were volatile organic compounds detected at the site (tetrachloroethylene, trichloroethylene, Cis-1, 2-dichloroethylene), as well as heavy metals, etc. (fluorine and lead), which exceed regulated standards. After consulting with Nagoya City officials, measurements were immediately taken. Groundwater was analyzed at all points along the site boundary for volatile organic compounds, which was determined to be within accepted levels and there is no danger of further contamination.
