Art Vallely, president, Penske Truck Leasing, (center) commemorates the launch of a new joint venture –IndoPenske –with executives from Mitsui & Co., Ltd. and Indorent in Jakarta, Indonesia. IndoPenske will provide full-service truck leasing, fleet maintenance and commercial truck rentals in Southeast Asia.
Photo: Penske Truck Leasing
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.
Cindy Brauer
Former Managing Editor
Cindy Brauer is a former managing editor for Bobit Business Media’s AutoGroup. A native of Chicago but resident of Southern California since her teens, Brauer studied journalism and earned a communications degree at California State University Fullerton. Over her career, she has written and edited content for a variety of publishing venues in a disparate range of fields.
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