January 26, 2012
Furukawa Automotive Systems Inc.
Furukawa Automotive Systems Inc. (Head Office:1000 Amago Koura-cho Inukami-gun Shiga Prefecture; President: Michitoyo Kurokawa; Status:a wholly owned subsidiary of Furukawa Electric Co., Ltd., “FAS”) has established Furukawa Automotive Systems Lima Philippines Inc.(“FALP”),a company that manufactures wire harnesses for automobiles, in Lipa City, Batangas Province, Republic of the Philippines, as its wholly owned subsidiary.
FAS has established FALP as its first wire harness manufacturing subsidiary in Philippines. The new company is scheduled to start operating in March 2013.
FAS , in increasing demand of wire harnesses, has been examining the expansion of production and the enhancement of production base in Asian area. Consequently, FAS has decided to establish a new manufacturing base in Lima technology Center, Lipa, Batangas, Philippines(65Km South from Manila) ,judging from securing a stable and abundant work force and stability of labor cost in future. FAS will position the new company as a base for exports mainly to Japan.
Operation of the new company will be a first step for further enhancement of manufacturing base in Asian countries.
Outline of the New Company
|Company Name||FURUKAWA AUTOMOTIVE SYSTEMS LIMA PHILIPPINES INC.|
|Location||Lipa City,Batangas Province,Republic of the Philippines
(LIMA TECHNOLOGY CENTER)
|Business Line||Manufacture and sales of wire harnesses for automobiles|
|Capital||1 Billion Japanese Yen|
|Investor||Furukawa Automotive Systems Inc.(investment ratio:100%)|
|Established||2012-1-16(Date of Certificate issued by SEC, Republic of the Philippines)|
|Operational Launch||Scheduled for March 2013|
|Number of employees||Approx.2,500(Planned for 2014)|