News Release
Acquisition of operating permission (establishment of a company) for new joint venture in China
Acquisition of operating permission (establishment of a company) for new joint venture in China
We report that Nikkeikin Aluminum Core Technology Co., Ltd., (President Mikio Shimizu; Shinagawa-ku, Tokyo; hereafter"Nikkeikin ACT"), 100% subsidiary company of Nippon Light Metal Co,. Ltd., (President Takashi Ishiyama; Shinagawa-ku, Tokyo; hereafter "Nikkeikin") has established a joint venture for manufacturing and selling automobile related parts, including parts for trucks, in China with Longkou Conglin Aluminium Alloy Automotive Parts Co., Ltd., (President Zhang Peiliang; Longkou City, Shandong Province, China) and was provided with the Operating Permission Certificate from the Chinese authorities.
| 1.Purpose of joint venture | ||
| Nikkeikin ACT, which has already developed machined product business for automotive industries in Shenzhen and Shanghai in China, has newly established a joint venture in order to create a production hub to deal with the high demand for automotive parts in northern China and the northeast districts in China and in order to provide aluminum extrusion formed parts to Shandong Conglin Fruehauf Automobile Co., Ltd., which was jointly established this time by Nippon Fruehauf Company, Ltd., (President Akitsugu Ueno; Atsugi, Kanagawa, Japan; investment ratio: Nikkeikin 66% and Isuzu Motors Limited 34%) and the same Conglin Group and operates the trailer manufacturing and sales business. Thus, the Nikkeikin Group and the Conglin Group were able to construct consistently strong and competitive supply chains that provide various products ranging from raw materials to aluminum formed products in China. |
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| 2.Outline of the joint venture | ||
| Operation starting period: | lanned to start operation in May 2012 | |
| Name of joint venture: | Shandong Nikkei Conglin Automotive Parts Co., Ltd. | |
| Legal address: | SHANDONG NIKKEI CONGLIN AUTOMOTIVE PARTS CO., LTD. | |
| Capital: | 46 million RMB | |
| Stake holding: | 46 million RMB | |
| Stake holding: | Nikkeikin Aluminium Core Technology Co., Ltd. 55% Longkou Conglin Aluminium Alloy Automotive Parts Co., Ltd. 45% |
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| Chairman of the Board of Directors: | Su Zhenjia (Executive President of Shandong Conglin Group) | |
| President and CEO: | Akira Adachi (Executive Director of Nikkeikin Aluminium Core Technology Co., Ltd.) | |
Hereafter Nippon Light Metal Group will positively perform overseas deployment in China and Southeast Asia to make efforts to strongly pursue global business.
Inquiry for release:
Publicity and IR section, Nippon Light Metal Co., Ltd. Tel: +81-3-5461-9333