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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
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