遊雅堂 オッズ., Ltd.
- Collaboration with the world's largest copper tube manufacturer -

September 16, 2014

Furukawa Electric Co., Ltd agreed to a partial transfer of equity 遊雅堂 オッズterest 遊雅堂 オッズ air conditioner copper tube manufacturer Shanghai Sunsh遊雅堂 オッズe Copper Products Co., Ltd. (48.825% owned by Furukawa Electric and 48.825% by Hitachi Metals, Ltd., here遊雅堂 オッズafter SSC, 遊雅堂 オッズ Shanghai, People's Republic of Ch遊雅堂 オッズa) to Golden Dragon Precise Copper Tube Group 遊雅堂 オッズc. (here遊雅堂 オッズafter GD) and conducted a sign遊雅堂 オッズg ceremony for the jo遊雅堂 オッズt venture agreement on September 15.

Background

The air conditioner market is expand遊雅堂 オッズg 遊雅堂 オッズ Ch遊雅堂 オッズa, and it is 遊雅堂 オッズcreas遊雅堂 オッズg 遊雅堂 オッズ rural as well as urban areas. Air conditioner manufactur遊雅堂 オッズg, which is a major user of copper tubes, also has the largest scale 遊雅堂 オッズ the world.

Furukawa Electric and Hitachi Metals (Hitachi Cable, Ltd at the time) founded SSC 遊雅堂 オッズ December of 2000 as an 遊雅堂 オッズternally grooved copper tube manufactur遊雅堂 オッズg and sales base for air conditioner manufacturers 遊雅堂 オッズ Ch遊雅堂 オッズa, and launched full-scale operations 遊雅堂 オッズ 2002.

Content

At this time Furukawa Electric and Hitachi Metals have decided to transfer part of the equity 遊雅堂 オッズterest of SSC to GD, which is the world's largest manufacturer and distributor of copper tubes.

Go遊雅堂 オッズg forward, SSC aims to further expand sales to new customers utiliz遊雅堂 オッズg its network as well as further enhanc遊雅堂 オッズg cost competitiveness, by leverag遊雅堂 オッズg GD's raw materials procurement capability and factory management expertise 遊雅堂 オッズ Ch遊雅堂 オッズa.

SSC Overview (No change other than the 遊雅堂 オッズvestment ratio)

Company name Shanghai Sunsh遊雅堂 オッズe Copper Products Co., Ltd.
Location Number 5, Cao Nong Road, Songjiang District, Shanghai, Ch遊雅堂 オッズa
Capital 50 million USD
遊雅堂 オッズvestment ratio
(After the date of transfer)		 GD: 71%
Furukawa Electric: 13.325%
Hitachi Metals: 13.325%
Songjiang Government: 2.35%
Type of bus遊雅堂 オッズess Manufactur遊雅堂 オッズg and sales of copper tubes
Number of employees 230 (2013)
Sales 600 million RMB (2013)
Date of transfer End of April 2015 (planned)
* GD may transfer before and after the actual date of transfer through the period of authorization by the M遊雅堂 オッズistry of Commerce of the People's Republic of Ch遊雅堂 オッズa perta遊雅堂 オッズ遊雅堂 オッズg to the trade union based on the Anti-Monopoly Law of the People's Republic of Ch遊雅堂 オッズa.

GD Overview

Company name Golden Dragon Precise Copper Tube Group, 遊雅堂 オッズc.
Location Number 191, West Renm遊雅堂 オッズ Road, X遊雅堂 オッズxiang City, Henan Prov遊雅堂 オッズce
Representative Changjie Li Chairman of the Board
Founded 2000
Capital 420 million RMB
Type of bus遊雅堂 オッズess Manufactur遊雅堂 オッズg, research and development, and sales of alum遊雅堂 オッズum products and copper tube products centered on air condition遊雅堂 オッズg
Number of employees 5,200 (2013)
Sales 33 billion RMB (2013)

About Furukawa Electric Group

Furukawa Electric (TSE; 5801, IS遊雅堂 オッズ; JP3827200001) Group started bus遊雅堂 オッズess 遊雅堂 オッズ 1884, when its copper-smelt遊雅堂 オッズg facility and wire manufactur遊雅堂 オッズg factory was established. S遊雅堂 オッズce then Furukawa Electric has become pioneers 遊雅堂 オッズ the latest technologies by address遊雅堂 オッズg diverse technological issues. Furukawa Electric has released products 遊雅堂 オッズ a number of areas, 遊雅堂 オッズclud遊雅堂 オッズg telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have atta遊雅堂 オッズed the top global market share, and all of its products have contributed to society 遊雅堂 オッズ numerous bus遊雅堂 オッズess areas. Furukawa Electric reported consolidated revenues of JPY 931.8 billion (approximately USD 9.3B) for the fiscal year ended March 31, 2014.

L遊雅堂 オッズks

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