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ADVICS Co., Ltd. and AISIN SEIKI Co., Ltd. announced today that ADVICS and AISIN agreed the merger of Chinese manufacturing subsidiaries, ADVICS Tianjin Automobile Parts Co., Ltd. and Tianjin AISIN Automobile Parts Co., Ltd..
ADVICS and AISIN have manufactured and sold automotive brakes by sharing manufacturing operations in the same production base in Tianjin Beichen Hi-tech Industrial Park in China since AISIN established Tianjin AISIN in 1997 and ADVICS established ADVICS Tianjin in 2004.
Along the popularization of automobiles in the current and future Chinese market, the establishment of a strong business foundation is urgently required. Under such circumstances, both ADVICS and AISIN determined that it is necessary to reinforce a business unit by merging the Chinese manufacturing subsidiaries of ADVICS and AISIN to rationalize production and further promote efficiency in management aiming at further growth and development in the automotive brake business in China. Accordingly, ADVICS and AISIN agreed with the merge of ADVICS Tianjin and Tianjin AISIN.
ADVICS and AISIN will pursue strengthening of quality and cost competitiveness and will aim at expanding the size of its automotive brake business in China along with the merger.
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Information of New Company
| Company Name | : | ADVICS Tianjin Automobile Parts Co., Ltd. |
| Location | : | East of Jin-wei Highway, Beichen Hi-tech Industrial Park, Tianjin, CHINA |
| Representatives | : | Chairman@ Shuzo Matsumoto (Vice President of ADVICS Co., Ltd.)
President@ Mitsuharu Ito |
| Capital | : | US$ 45,514,816 (Approximately JPY 5.00 billion) |
| Investment ratio | : | ADVICS Co. Ltd. 50.1%
AISIN SEIKI Co., Ltd. 47.2%
TOYOTA TSUSHO Co., Ltd. 2.7% |
| Establishment | : | July 2008 (scheduled) |
| Products | : | Brake Booster & Master Cylinder, Brake Caliper, Parking Brake |
| Sales | : | Approx. CNY 1.36 billion (Approximately JPY 18.00 billion) estimated in 2008 |
| Employees | : | Approximately 1,400 estimated in 2008 |
For further information, please contact Corporate Administration Dept.
Phone : +81 (0)566 63 8000
Facsimile: +81 (0)566 22 8021
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