Beirut, 14 December  2011 – Rasamny-Younis Motor Company S.A.L. (RYMCO), signed today a partnership agreement with Renault Trucks announcing them as exclusive distributor of Renault Trucks in Lebanon. The conference took place at RYMCO’s headquarters in Chiyah and was attended by senior officials from RYMCO, Renault Trucks International and members of the press.

This agreement is part of RYMCO’s strategy to expand its brand portfolio, especially in the heavy duty vehicles, a new sector that is still restraint in the Lebanese Market. It also marks a new stage in the manufacturer’s presence in Lebanon enabling Renault Trucks to play a key role in the country.

“Renault Trucks is one of the largest manufacturers of Heavy duty vehicles in the world and we are proud for being their official distributor in Lebanon as we strongly believe in this long lasting partnership and future success.” said Fayez Rasamny, Chairman of RYMCO.  “This partnership will expand our brand portfolio enabling us to provide consumers with a diversity of superior brands as we aim to build successful partnerships and alliances with international entities such as Renault Trucks.” he added.

Mr. Frederic Mouret, Vice President of Renault Trucks International stressed on the importance of this partnership between the two companies: “We are pleased to have signed this partnership that will join two family Groups for years to come. This agreement confirms the commercial ties between France and Lebanon by opening up opportunities to invest in this important market for our expansion.” “We chose RYMCO based on their reputation in the automotive industry and we are confident that through this partnership RYMCO will be the best representative for Renault Trucks in Lebanon.” he added.

Through this partnership, the two groups will achieve their aim to reach to a new range of customers and serve the industrial needs of the Lebanese market.

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ABOUT RYMCO:

Rasamny-Younis Motor Company S.A.L. (RYMCO) is a joint stock company, ISO certified 9001:2008 that was established in 1957 in Lebanon and is the only automotive dealer to be listed on the Beirut Stock Exchange since 1998. RYMCO is one of the leading vehicle retail dealerships in Lebanon where it holds majority market share in the new vehicle retail industry, and commands a considerable portion of the used vehicle market. RYMCO operates a chain of independent showrooms and stores, a bonded warehouse as well as state-of-the-art servicing and maintenance facilities. The company has an automotive dealership arrangement with auto manufacturers in the US, Japan, Europe and China that include the likes of automotive giants Nissan Motors (Nissan, Infiniti), GM vehicles (GMC), Renault trucks, UD Trucks, and Kawasaki under the Leisure division. RYMCO marine is another unit within the RYMCO operations specialized in the servicing of boats under the brand name of RYMCO Marine.

In 2009, RYMCO UK was granted the right to distribute the Infiniti brand of cars in London. It will cover distribution for the area through three SSS IREDI facilities in Reading, Chiswick and Hatfield; along with a boutique in the centre of London in Piccadilly.

RYMCO SAL holds also the majority of the shareholding of free zone companies in Syria which main activity is the importation of Nissan and Infiniti vehicles and the storage of these vehicles in the free zone areas, for the purpose of reselling them to the Syrian market (mainly to a Syrian company owning the exclusive distribution for Nissan cars in Syria.)

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