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2006 News Release
March 15 
March 15, 2006
Hitachi Metals, Ltd.
Hitachi Metals, Ltd.
Establishment of a New Sales and Marketing Center in India
—To Accelerate Business Expansion in India—| Tokyo, Japan, March 15, 2006—Hitachi Metals, Ltd. today announced the establishment of Hitachi Metals (India) Pvt. Ltd. as a sales and marketing center to the Indian market. As one of its initiatives to promote sustainable growth, Hitachi Metals aims to accelerate business development in the Indian market by expanding sales of automotive, electronics and energy-saving-related products and materials, and by creating new businesses there. |
1. Background
Hitachi Metals is aggressively moving ahead with overseas business expansion in order to attain sustainable growth, focusing on developing business in high-growth Asian markets.India is one of the so-called BRIC economies in Asia, and is seeing increases in automobile production and rapid growth of IT businesses, particularly in the area of software development. These trends are fueling robust development of the automotive and electronics industries, and India’s real GDP rate rose by 7.3% in 2004. With high growth rates expected to drive continued expansion of demand in environment and energy related businesses, India is seen to be an increasingly attractive market.
In light of these factors, Hitachi Metals established Hitachi Metals (India) Pvt. Ltd. to support the sales activities of our amorphous alloy* business, which is already seeing a rapid increase in demand from energy-related businesses in India. At the same time, Hitachi Metals (India) Pvt. Ltd. will work to expand sales of products and materials to the automotive and electronics-related industries in India.
2. New Company Profile
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| Customer Inquiries: | ||
| Kinzo Watanabe Hitachi Metals (India) Pvt. Ltd. Telephone: +91-124-412-4812 Facsimile : +91-124-237-3119 |
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| Toshihiko Wakamura Global Business Planning Center, Hitachi Metals, Ltd. Telephone: +81-3-5765-4091 Facsimile : +81-3-5765-8319 |
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| Press Inquiries: | ||
| Akio Minami Corporate Communications Office, Hitachi Metals, Ltd. Telephone: +81-3-5765-4079 Facsimile : +81-3-5765-8312 |
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(Reference)
1. Consolidated Overseas Sales (Billions of yen)
| Fiscal 2003 | Fiscal 2004 | Fiscal 2005 | Notes | ||||
|---|---|---|---|---|---|---|---|
| Full fiscal year | Full fiscal year | Full fiscal year forecast |
|||||
| Actual | % of total | Actual | % of total | Actual | % of total | ||
| North America | 53.3 | 13% | 63.3 | 11% | 67.0 | 11% | |
| Asia | 56.4 | 13% | 107.6 | 19% | 129.0 | 22% | |
| Europe | - | - | 23.7 | 4% | 28.0 | 5% | |
| Other | 23.0 | 6% | 8.8 | 2% | 9.0 | 2% | Includes fiscal 2003 Europe sales. |
| Total | 132.7 | 32% | 203.4 | 36% | 233.0 | 40% | Overseas sales ratios are represented by % of total figures. |
2. Hitachi Metals Group, India Operations
Hitachi Metglas (India) Pvt. Ltd.| (1) | Business activities: | Processing and sales of soft magnetic materials |
| (2) | Location: | Sector 36, Pace City II, Gurgaon-122004, Haryana, India |
| (3) | Representative: | Naresh Chachra |
| (4) | Established: | August 1999 |
| (5) | Paid-in capital: | ¥718 million (Hitachi Metals holds 100% ownership, as of September 30, 2005) |
| (6) | Employees: | 306 (as of September 30, 2005) |
DGP Hinoday Industries Ltd.
| (1) | Business activities: | Manufacture and sales of magnetic materials and automotive casting components |
| (2) | Location: | Bhosari Industrial Estate, Pune 411026, India |
| (3) | Representative: | S.B. Tilloo |
| (4) | Established: | September 1963 |
| (5) | Paid-in capital: | ¥312 million (Hitachi Metals Group holds 33% ownership, as of September 30, 2005) |
| (6) | Employees: | 1022 (as of September 30, 2005) |
