Aisin Seiki to open two new Chinese plants
Japanese supplier Aisin Seiki Co. has launched two subsidiaries to produce electronics and body components in China, reports IHS Automotive's Supplier Business newsletter, citing Jiji Press.
The electronics venture, dubbed Aisin Seiki Foshan Electronics, will begin production this month in the southern Chinese city of Foshan in Guangdong province.
The factory, which has a registered capital of 1.1 billion yen (91 million yuan), is wholly owned by Aisin Seiki. The Foshan plant is targeting annual sales of 5 billion yen (406 million yuan) by 2015.
The other new venture, Aisin Wuxi Body Parts, will produce body components in a factory located in Wuxi of eastern China's Jiangsu province.
The Wuxi plant will launch production next March, and is aiming to generate annual sales of 202 million yuan in 2015.
Aisin and its Taiwanese subsidiary own 60 percent of the venture; a Taiwanese company that Supplier Business did not name will hold 40 percent.
