23rd
January 2008 - ADVICS and
AISIN to Merge Chinese Manufacturing Subsidiaries
ADVICS Co., Ltd. and
AISIN SEIKI Co., Ltd. announced in December 2007 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.
Source: ADVICS
Press Release