Penske Truck Leasing has formed a new joint venture in Indonesia called “IndoPenske.” Penske partnered with Mitsui & Co., Ltd. and the Indonesian conglomerate The Salim Group’s Indomobil, which operates the vehicle rental business Indorent.
“Indorent has built a solid reputation for customer satisfaction, which aligns well with our values and commitments as an organization,” said Art Vallely, president, Penske Truck Leasing. “Together, IndoPenske will now bring a new level of service and scale to the transportation industry in Southeast Asia. We look forward to our work together and growing this business for the future.”
The IndoPenske partnership introduces Penske Truck Leasing’s business model to Indonesia as the region begins providing full-service commercial truck leasing, fleet maintenance, and commercial truck rentals.
Formally announced October 27 at a press conference in the city of Jakarta, the joint venture’s financial terms were not disclosed.
Indonesia is the world’s fourth-most-populated country with a large transportation industry.