Toyoda Boshoku Corporation
Araco Corporation
Aisin Seiki Co., Ltd.
Toyoda Boshoku Corporation (Headquarters: Kariya-shi, Aichi, Japan; President: Junichi Yoshikawa), Araco Corporation (Headquarters: Toyota-shi, Aichi, Japan; President: Masanao Motonami) and Aisin Seiki Co., Ltd. (Headquarters: Kariya-shi, Aichi, Japan; President: Kansihro Toyoda) have established a manufacturing company in Guangzhou, China, to produce seat frames and functional components.
The name of the new company is “Feng’ai (Guangzhou) Automotive Seat Parts Co., Ltd.” It is located in Nansha Development Zone in Guangzhou, and will perform the integrated manufacture of automotive seat frames and seat-use functional components.
This is the first joint venture in China for Araco and Aisin Seiki, and it follows on past cooperation in the development and production of set frame components. Taking advantage of both companies’ strengths will enable the manufacture of high quality and low cost seat frames and functional components.
The components produced in Guangzhou will be supplied to the automotive interior component manufacturer “Guangzhou Intex Auto Parts Co. Ltd,” which was established at the same time.
| 1. | Company Name: | Feng’ai (Guangzhou) Automotive Seat Parts Co., Ltd. | ||||||
| 2. | Location: | Nansha Development Zone, Guangzhou, China | ||||||
| 3. | Established: | September 2004 | ||||||
| 4. | Capital: | US million (116 million yuan, 1.54 billion yen) | ||||||
| 5. | Land area: | 62,000 m2 | ||||||
| 6. | Building floor space: | 13,000 m2 | ||||||
| 7. | Investment ratio: |
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| 8. | Products: | Automobile seat frames and seat functional components, such as seat backs, seat cushions, seat tracks, etc. | ||||||
| 9. | Capital investment: | 200 million yuan, (about 2.6 billion yen) | ||||||
| 10. | Production start: | April 2006 (planned) | ||||||
| 11. | Representative: | Chairman Hiroyasu Ono (Araco Managing Director) Financial Controller Yasuji Wakao (Araco) |
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| 12. | Number of employees: | About 200 (projected for fiscal 2007, 5 Japanese) | ||||||
| 13. | Sales: | 300 million yuan (about 4 billion yen, forecast for fiscal 2007) |