2003 The former Hitachi Cable News Release
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Hitachi Cable Establishes New Manufacturing Facilities for Information and Electronic Wires and Cables in Eastern China
Hitachi Cable, Ltd. has established two subsidiary companies in Suzhou, China, located about 100km west of Shanghai. The new companies are Hitachi Cable (Suzhou) Co., Ltd., a cable manufacturing company (hereinafter Hitachi Cable (Suzhou)), and Hitachi Cable Fine Tech (Suzhou) Co., Ltd, which manufactures wiring components (Hereinafter Hitachi Cable Fine Tech (Suzhou)).
Hitachi Cable already manufactures and markets for information and electronic wires and cables to the Chinese market through Shanghai Hitachi Cable Co., Ltd. (Headquarters: Shanghai; Chairman: Tetsuya Yamamura,), Hitachi Shin Din Cable, Ltd. (Headquarters: Hong Kong; Works: Shenzhen; President: Chan Hing Kwong), and Huanan Wire & Cable Services Co., Ltd.(Headquarters: Hong Kong; Works: Shenzhen; President: Hisao Ebihara;), in addition to exporting from companies in the Hitachi Cable Group located in Japan and Southeast Asia. In recent years, however, the information and electronics industry in China, especially in the eastern part of the country , centering on Shanghai, has shown spectacular growth in production, and with the country's entry into the World Trade Organization in 2001, Hitachi Cable determined that this trend would only further accelerate. For this reason, the Company has established the abovementioned two new companies to serve as its second manufacturing and engineering centers in the eastern part of the country, after Shanghai Hitachi Cable, information and electronic wires and cables.
For the time being, Hitachi Cable (Suzhou) will manufacture information and electronic wires and cables, chiefly micro coaxial cables and radiant heat resistant wires and cables. Plans call for the company to commence manufacturing a full range of industrial wires and cables by 2005, including special heat resistant wires and cables for automotive use. Hitachi Cable Fine Tech (Suzhou), on the other hand, will manufacture such products as wiring for PC components and medical equipment.
With the founding of these two new companies, the total number of Hitachi Cable Group manufacturing facilities in China stands at seven, including the abovementioned three companies, Shanghai Hitachi Cable Trading, Hitachi Shin Din Cable, and Huanan Wire & Cable Services, plus Zhongtian Hitachi Fiber Optic Cable Co., Ltd. (Headquarters: Nantong Jiangsu, Suzhou; Chairman: Xue Ji Ping), which manufactures composite fiber optic overhead ground wires, and Shanghai Sunshine Copper Products Co., Ltd. (head office: Shanghai; Chairman: Katsuhisa Furuichi), which manufactures copper tubing.
Hitachi Cable Asia Ltd. (Headquarters: Hong Kong; President :Toshio Minami, President) and Shanghai Hitachi Cable Trading Co., Ltd. (Headquarters: Shanghai; President :Toshiaki Ohno,) will form the core of the Group's sales and marketing activities in China. They will work with Hitachi Cable's regional distributors throughout China to build a system capable of offering the best possible service to the complex and ever-changing Chinese market, while also improving their services to customers outside China.
| Company Name | Hitachi Cable (Suzhou) Co., Ltd. | Hitachi Cable Fine Tech (Suzhou) Co., Ltd. |
|---|---|---|
| Location | Xujiang Industrial Park, Xukou, Wuzhong, Suzhou, Jiangsu |
Xujiang Industrial Park, Xukou, Wuzhong, Suzhou, Jiangsu |
| Chief Executives | Chairman: Tetsuya Yamamura (Seconded from Hitachi Cable, Ltd.) President: Takayasu Asai (Seconded from Hitachi Cable, Ltd.) |
Chairman:Tetsuya Yamamura (Seconded from Hitachi Cable, Ltd.) President: Shijio Ogata (Seconded from Hitachi Cable Fine Tech, Ltd.) |
| Business | Manufacture and Marketing information and electronic wires and cables | Manufacture and Marketing of wiring for PC components and medical equipment |
| Capitalization | $12 Million | $ 3 Million |
| Share Ownership | Hitachi Cable, Ltd.: 100% | Hitachi Cable Fine Tech, Ltd.: 70% Hitachi Cable, Ltd.: 30% |
| Established | Operating Permit Issued January 27, 2003 To be registered on March 14, 2003 |
Operating Permit Issued January 28, 2003 Registered on March 6, 2003 |
| Total Site Area | Approx. 50,000 m2 | Approx. 14,000 m2 |
| Building Area | Approx. 14,000 m2 (1st Development Phase) |
Approx. 13,500 m2 |
| Net Sales Targets |
$19.60 Million (Fiscal 2004 Objective) |
$14.30 Million (Fiscal 2004 Objective) |
| Number of Employees | Approx. 130 (by Fiscal 2004) |
Approx. 500 (by Fiscal 2004) |
| Commencement of Operations |
Scheduled for October 2003 | Scheduled for June 2003 |