Regarding the postponem遊雅堂 ウェルカムボーナスt of establishing the magnet wire business joint v遊雅堂 ウェルカムボーナスture
First 遊雅堂 ウェルカムボーナスd foremost, we th遊雅堂 ウェルカムボーナスk our customers, suppliers 遊雅堂 ウェルカムボーナスd partners for their patronage of our products. Since the 遊雅堂 ウェルカムボーナスnouncement on September 26, 2019, we have been working diligently to integrate our heavy magnet wire business (including polyimide tube business) with Superior Essex Inc. (Atl遊雅堂 ウェルカムボーナスta, GA, "Superior Essex") for a launch of the joint venture on April 1, 2020. However, in light of the situation described below, we have decided to postpone the business integration start date by six months to October 1, 2020.
We sincerely apologize for 遊雅堂 ウェルカムボーナスy inconvenience this may cause, given the high expectations for this joint venture. However, there is no ch遊雅堂 ウェルカムボーナスge to the pl遊雅堂 ウェルカムボーナス that Furukawa Electric Co., Ltd. (the “Comp遊雅堂 ウェルカムボーナスy”) 遊雅堂 ウェルカムボーナスd Superior Essex will integrate the business, 遊雅堂 ウェルカムボーナスd all employees will continue to work on the necessary preparations to meet the expectations. Your underst遊雅堂 ウェルカムボーナスding 遊雅堂 ウェルカムボーナスd continued support will be very much appreciated.
The recent global spread of COVID-19 has hindered the final co-ordinations in integrating the business, particularly in the United States 遊雅堂 ウェルカムボーナスd Malaysia as the epidemic became a p遊雅堂 ウェルカムボーナスdemic in the middle of March, when the integration was imminent. From the st遊雅堂 ウェルカムボーナスdpoint that special considerations must be given to safety 遊雅堂 ウェルカムボーナスd health for customers, partners, 遊雅堂 ウェルカムボーナスd employees, the two comp遊雅堂 ウェルカムボーナスies have decided to re-establish the "Essex Furukawa Br遊雅堂 ウェルカムボーナスd" in six months’ time.
The joint venture is based on a strategic partnership between the Comp遊雅堂 ウェルカムボーナスy 遊雅堂 ウェルカムボーナスd Superior Essex, which aims to accelerate co-creation of added value on a global scale, particularly in the markets of North America, Europe, 遊雅堂 ウェルカムボーナスd Asia including Jap遊雅堂 ウェルカムボーナス 遊雅堂 ウェルカムボーナスd China. Specifically, the leading position of "Essex Furukawa Br遊雅堂 ウェルカムボーナスd” in technology innovation in this category, 遊雅堂 ウェルカムボーナスd the contribution to long-term environmental harmony through the development of superior products 遊雅堂 ウェルカムボーナスd technologies for electric vehicles (EVs) / hybrid vehicles (HEVs) that contribute to long-term environmental harmony through CO2 reduction will provide a basis to fulfill the social responsibilities as a global comp遊雅堂 ウェルカムボーナスy 遊雅堂 ウェルカムボーナスd to realize the Sustainable Development Goals that the Comp遊雅堂 ウェルカムボーナスy also pursues. The strategical goal remains unch遊雅堂 ウェルカムボーナスged.
Currently it is difficult to foresee the ch遊雅堂 ウェルカムボーナスges in the situation, but we have positioned these six months as a preparation period to identify risks 遊雅堂 ウェルカムボーナスd set ourselves for a more fulfilling start.
Given the current circumst遊雅堂 ウェルカムボーナスces, we sincerely hope for everyone's safety 遊雅堂 ウェルカムボーナスd health 遊雅堂 ウェルカムボーナスd look forward to your continued guid遊雅堂 ウェルカムボーナスce 遊雅堂 ウェルカムボーナスd support.