March 6, 2002
Furukawa Electric Co., Ltd. (TSE :5801) today announced that its Chinese automotive parts affiliate will begin manufacturing and distributing Steering Roll Connectors, an electronic part used in automotive air-bag systems.
Furukawa's Chinese affiliate, Tianjin Jinhe Electric Engineering Co., Ltd was established in March 1996, and will begin supplying SRCs to Tianjin Automotive Xiali Company Ltd., a leading automotive maker supported by Toyota Motor Corp. Tianjin Automotive has been manufacturing its flagship car the "NBC II" since December 2000. About 50,000 NBC II's are manufactured annually.
By enhancing its local manufacturing and distribution capabilities for SRCs, which have top world market share, Furukawa aims to meet growing demand for air-bag systems in China.
In China, new cars are required to be fitted with air-bag systems and since SRCs are one of the key electronic components for air-bag systems, demand for SRCs is growing fast.
Further more, Tianjin Toyota Motor Co., Ltd., which is a joint venture of Toyota and Tianjin Automotive Industrial (Group) Co., Ltd., is to manufacture a brand-new car, the "NBC V," from autumn 2002. Tianjin Jinhe also supply SRCs by way of Tianjin Tokai Rika Automotive Parts Co., Ltd.
Furukawa's other foreign bases are as follows;
South Korea: Shin Chang Connector Co.,Ltd.
Mexico: Furukawa Mexico S.A.De C.V.
The Philippines: Furukawa Electric Autoparts Philippines
Czech Republic: Furukawa Electric Autoparts Central Europe