OMRON Establishes Automotive Electronics Production & Sales Subsidiary in India
FOR IMMEDIATE RELEASEAugust 9, 2007
Tokyo, Japan - OMRON Corporation (TSE: 6645; ADR: OMRNY; 'OMRON'), a global leader in automation, sensing and control technology, today announced that it has established a new automotive electronics sales and production subsidiary, OMRON Automotive Components India PVT Ltd. ( 'OAI'), in Haryana, India. The Group's first production base on the subcontinent, OAI represents OMRON's commitment to the rapidly expanding Indian automotive industry.
As a direct subsidiary of OMRON's Automotive Electronic Components Business (AEC), OAI will handle the manufacture and sales of automotive electronic components in India. Initially, OAI will operate in cooperation with ASTI Electronics India PVT Ltd ( 'AEIPL')*, in an arrangement whereby AEIPL will manufacture OMRON's components at its production facility in Haryana. OAI will be fully responsible for quality control and sales and marketing operations.
Jiro Fujiwara, OAI Managing Director, said, "Like China, India is attracting massive capital investment in manufacturing facilities by major car makers around the world. As a global supplier of advanced components and systems that enhance vehicle safety and reliability, OMRON is committed to supporting our customers' operations wherever they are in the world. We have already received a number of orders from major Japanese automakers and look forward to growing our sales in the Indian market further through OAI."
Outline of the New Subsidiary
|Name||OMRON Automotive Components India PVT Ltd.|
|Location||Manesar, GurgaonCity, Haryana, India|
|Date of establishment|| July 30, 2007
(Mass production scheduled to start in second half of FY08)
|Paid-in capital||150 million rupees (approx. JPY 400 million)|
|Capital composition||OMRON Corporation (99.99%); OMRON Iida Co., Ltd. (0.01%)|
|Main business||Manufacture of automotive electronic components and devices (body control modules, keyless entry devices etc.)|
- A subsidiary of ASTI Corporation, AEIPL is primarily involved in the production of wire harnesses for motorcycle manufacturers in India. OMRON Corporation has an approximately 25% ownership interest in AEIPL.