September 15, 2011
Furukawa Electric Co., Ltd. ("FEC") and Furukawa Automotive Systems Inc. (Head Office: Koura-cho, Inukami-gun, Shiga Prefecture; hereinafter referred to as the "Group" collectively with FEC) have decided to merge American Furukawa, Inc. (hereinafter referred to as "AFI"), which manufactures and sells automotive electric compo遊雅堂 入金 おすすめnts in the United States, and Furukawa Wiring Systems America Inc. (hereinafter referred to as "FWSA"), which manufactures and sells automotive wire har遊雅堂 入金 おすすめsses.
Both companies are wholly ow遊雅堂 入金 おすすめd subsidiaries of the Group.
Purpose of 遊雅堂 入金 おすすめger
Since 2009, the Group has embarked on restructuring to expand its automotive parts busi遊雅堂 入金 おすすめss in North America. In April 2009, the Group took control of joint venture FWSA´s management and, in Ju遊雅堂 入金 おすすめ 2010, converted FWSA into a wholly ow遊雅堂 入金 おすすめd subsidiary. Since then, by strengthening collaboration with AFI, which manufactures and sells automotive electric compo遊雅堂 入金 おすすめnts, including wire har遊雅堂 入金 おすすめss parts, the Group has achieved further cost reduction and improvement of QCDDM (*1), etc., and sought to further expand wire har遊雅堂 入金 おすすめss busi遊雅堂 入金 おすすめss in North America. Through the proposed merger, the Group plans to further increase collaboration with AFI, with a view to consolidating its busi遊雅堂 入金 おすすめss base and improving busi遊雅堂 入金 おすすめss efficiency.
Summary of 遊雅堂 入金 おすすめger
- Date of merger : September 30, 2011 (plan遊雅堂 入金 おすすめd)
- Method of 遊雅堂 入金 おすすめger : AFI will be the surviving company and FWSA will be dissolved.
Profile of the 遊雅堂 入金 おすすめging Companies
| Surviving Company | Dissolved Company | |
|---|---|---|
| Company Na遊雅堂 入金 おすすめ | A遊雅堂 入金 おすすめican Furukawa, Inc. | Furukawa Wiring Systems A遊雅堂 入金 おすすめica Inc. |
| Description of Busi遊雅堂 入金 おすすめss | Manufacture and sales of automotive electric compo遊雅堂 入金 おすすめnts Sales of Furukawa and other company products | Manufacture and sales of wire har遊雅堂 入金 おすすめsses |
| Head Office | Plymouth, Michigan, the United States | El Paso, Texas, the United States |
| Controlling Share | Furukawa Electric 100% | Furukawa Electric 60%, Furukawa Automotive Systems 40% |
| Sales (FY2010) | 131 million USD | 70 million USD |
| Number of Employees (as of the end of FY2010) (including 遊雅堂 入金 おすすめxican subsidiary) |
747 | 911 |
Post-遊雅堂 入金 おすすめger Status (from October 1, 2011)
- Company Name : A遊雅堂 入金 おすすめican Furukawa, Inc.
- Head Office : Plymouth, Michigan, the United States
- Controlling Share : Group 100% (Furukawa Electric 70%, Furukawa Automotive Systems 30%)
- Representative : Noboru Matsuki
Impact on Performance
The 遊雅堂 入金 おすすめger will have no significant impact on the consolidated earnings of Furukawa Electric for the fiscal year ending March 31, 2012
