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December 28, 2005 |
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ADVICS Establishes a Subsidiary in Taiwan |
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ADVICS Co., Ltd., announced today the establishment of a new company in Taiwan, ADVICS Taiwan Automotive Parts Co., Ltd., which will distribute automotive brake systems and brake components. This new company, part of ADVICS' global business strategy, was established in order to expand sales by focusing on supplying brake system products for which there is demand in Taiwan. The company is the fifth operating base for ADVICS in Asia following Thailand, Indonesia, China (Tianjin and Guangzhou). ADVICS will establish a business footing in Taiwan through cooperation with its other Asian bases.
The company was established on December 12, 2005 with start-up capital of 16 million NT dollars (approximately 50 million yen*) and is located in Industrial Park, Taichung, Taiwan. This company is 100% funded by ADVICS. Headed by Tsutomu Yasui (Vice President of ADVICS), ADVICS Taiwan Automotive Parts is the eighth overseas base and is projecting sales of 810 million NT dollars (approximately 2.59 billion yen) with a staff of 8 in 2010.
ADVICS Co., Ltd. was established on July 3, 2001 and commenced business on October 1, 2001. The company develops and distributes automotive brake systems and brake components. As of March 31, 2005, the company was capitalized at 5.75 billion yen and for the FY2004 had net sales of 227 billion yen.
* Exchange rate used is 3.1 yen per one NT dollar.
For further information, please contact Corporate Administration Dept.
Phone : +81 (0)566 63 8000
Facsimile: +81 (0)566 22 8021
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Copyright (C)2003 ADVICS CO.,Ltd. All rights reserved. |
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