2000 The former Hitachi Cable News Release
Information (including product prices, product specifications, details of services, launch dates, inquiry information, and URLs) contained in this news release is current as of the date of the press release but is subject to change without notice. Please note that details may differ from those effective on the search date.
Establishment of a new auto parts company in the UK.
In cooperation with Hitachi Cable Indiana, Ltd. (our wholly owned subsidiary in Indiana, USA -here under referred to as 'HCI') we have established a new local manufacturing corporation for auto parts in Wales - Hitachi Cable UK, Ltd. Operations started running on July 1 2000. This new company is founded on the basis of our global strategy; as we aim to capture European business by supplying our parts to Japanese auto makers who have advanced into Europe and to other local auto makers who are based there.
Up to now, we have established three strongholds for the manufacturing and sale of rubber products for automotive parts (like brake hose etc.) and OA equipment parts: Japan (Hitachi City, Ibaragi Prefecture), America (HCI - USA and Queretaro S.A. de C.V. - Mexico)and South East Asia (Philippines - Hitachi Cable Philippines, Inc). However, with this latest addition in Europe we have been able to accomplish our desire to build locations at every compass point. In order to develop a comprehensive global customer service, our Functional Components Division, which is in charge of rubber products manufacturing and sales, is planning to take this opportunity to organically link these strongholds into a global network.
An outline of Hitachi Cable UK, Ltd. can be seen below:
| Trading name: | Hitachi Cable UK, Ltd. |
|---|---|
| Location: | Unit 39/40, Rassau Industrial Estate, Ebbw Vale, Gwent, NP23 5SD, Wales |
| Representative: | President - Mr. Chikamoto Shiro (HCI President) |
| Paid-in capital: | 1.2 million pounds |
| Investment ratio: | HCL: 70% / HCI: 30% |
| Established: | Apr-2000 |
| Started operations: | Jul-2000 |
| Area of site: | 9,700m2 |
| Area of usable floor space: | 1,900m2 |
| Products manufactured: | power steering hose, brake hose and other automotive brake harnesses |
| Staff: | 35 (initially) |
| Net Sales: | approx. 2.4 billion Yen (first year forecast) |
An outline of Hitachi Cable Indiana, Ltd (for your reference):
| Representative: | President - Mr. Chikamoto Shiro |
|---|---|
| Paid-in capital: | 6 million dollars |
| Established: | Apr-1987 |
| Net Sales: | approx. 48 million dollars (1999 results) |