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December 27,2001 |
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ADVICS establishes a new company in the United States |
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December 27,2001- ADVICS CO., LTD.
(Head Office: Kariya City, Aichi Prefecture, President: Dr. Haruhiko
Saito.) today announced that it will establish a new company, "ADVICS
North America, Inc." in the United Sates in January 2002, which
will develop and sell automobile brake systems and components. ADVICS
provides 100% of the capital at US$15million.
This is the second step followed by the sales initiation in Japan
in October 2001. ADVICS is establishing this new company to increase
the efficiency of the management in North America, where the sales
of auto-related products is expected to expand. ADVICS North America
aims to actively promote development and sales activities where
a wide variety of requests from the customers in the United Sates
are anticipated.
| The overview of the new company is as follows |
| 1.
Company name: |
ADVICS
North America,Inc. |
| 2.
Establishment: |
January
1, 2002 |
| 3.
Location: |
Plymouth,
Michigan, the United Sates |
| 4.
Capital: |
US$15
million. ADVICS CO., LTD holds 100% of share |
| 5.Board
of directors: |
| Position |
Name |
| President |
Masahide
Kato (Vice President of ADVICS) |
| Executive
Vice President |
Keishi
Koba (President of SEAI) |
Director
(Not fulltime) |
Dr.
Haruhiko Saito (President of ADVICS) |
Director
(Not fulltime) |
Mitsuo
Kyotani
(Senior Vice President of ADVICS) |
Director
(Not fulltime) |
Michiharu
Nishii
(Senior Vice President of ADVICS) |
(SEA I: SUMITOMO ELECTRIC AUTOMOTIVE,INC.) |
| 6.
Description of business: |
Develop
and sell automobile brake systems and components |
| 7.
Turnover: |
US$500
million in 2005 (Target) |
| 8.
Number of employees: |
Approx.
60 |
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Copyright (C)2003 ADVICS CO.,Ltd. All rights reserved. |
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