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Press Release
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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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