 |
|
|
March 24, 2005 |
|
|
|
ADVICS Establishes a Subsidiary in Guangzhou, China |
|
|
|
ADVICS Co., Ltd., announced today the establishment of the second manufacturing and sales subsidiary in China, which is located in Guangzhou, southern China, on November 12, 2004.
ADVICS Guangzhou Automobile Parts Co., Ltd. will produce and distribute automotive brake systems and brake components. The new company will enable global-scale growth by consistently taking advantage of business opportunities in the fast-growing Chinese car market. To cope with the overseas transfer of the Japanese automobile makers, the new subsidiary will realize effective use of operating bases in the vast land of China by building the second plant in the Nansha Development District in the city of Guangzhou, Guandong, following ADVICS Tianjin Automobile Parts Co., Ltd., in northern China.
Principal shareholders are ADVICS (95%) and Toyota Tsusho Corporation (5%). Start-up capital of 7.3 million U.S. dollars (approximately 8 hundred million yen) has been committed.
Headed by Hirochika Shibata, ADVICS Guangzhou is the seventh overseas base (three in the United States, two in ASEAN, and one in China), and it will employ 100 people by 2010.
Construction starts on the 9,600 m2 facility (on a 58,000 m2 site), with production scheduled to commence in May 2006. Investing 560 million yen for land, building, and facilities initially, the company starts operation in August 2005.
The company projects sales to reach 500 million yuan (approximately 6.7 billion yen) by 2010, and it will vigorously pursue market expansion in China.
*Exchange rates used are 110 yen per one dollar and 13.3 yen per one yuan.
For further information, please contact Corporate Administration Dept.
Phone : +81 (0)566 63 8000
Facsimile: +81 (0)566 22 8021
 |
|
|
|
Copyright (C)2003 ADVICS CO.,Ltd. All rights reserved. |
|
