ADVICS Co., Ltd., a leading supplier of cutting-edge automotive brake systems and sophisticated brake components, announced today that it has established a new subsidiary, ADVICS Tianjin Automobile Parts Co., Ltd. in Tianjin, China. The new subsidiary will serve as the base for the manufacturing and sales of automotive brake systems and components in China. Operations will start in August 2004 and manufacturing output will begin in February 2005.
Because of increased automobile sales in the Chinese market, the demand for brake components is growing. The new subsidiary aims to increase sales by supporting the needs of current and future customers with the supply of brake systems and components.
ADVICS Tianjin Automobile Parts Co., Ltd., with start-up capital of US$12.08 million and a total investment of 150 million yuan, was established at the Beichen Economic and Technological Development Zone, Tianjin, China on February 27, 2004. ADVICS Co., Ltd. invested 95% of the capital and Toyota Tsusho Corporation invested the remaining 5%. Headed by Mitsuo Kyotani, ADVICS Tianjin is the sixth overseas subsidiaries with three in North America and two in the ASEAN region.
The new plant covers an area of land measuring 150,000m2 with 23,000m2 of building space. The company will employ 100 people by 2005. With production slated to begin in February 2005, the new plant set first year sales targets at 200 million yuan and total sales of 900 million yuan by 2010.
For further information, please contact Corporate Administration Dept.
Phone : +81 (0)566 24 8275
Facsimile: +81 (0)566 24 8274
