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”), 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.
Objective
FAS, in increasing demand of wire harnesses for automobiles, has been examining the expansion and enhancement of its production base in Asia. Consequently, FAS has decided to establish a new manufacturing base in the Lima technology Center, in Lipa City, Batangas Province, in the Philippines (65 km south of Manila), looking toward 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 development of manufacturing bases in Asian countries.
New Company Outline
Company name: FURUKAWA AUTOMOTIVE SYSTEMS LIMA PHILIPPINES INC.
Location: Lipa City, Batangas Province, Republic of the Philippines (LIMA TECHNOLOGY CENTER)
Site Area: Approx. 50,000 m²
Building Area: Approx. 21,000 m²
President: Keiji Kita
Business Line: Manufacture and sales of wire harnesses for automobiles
Capital: JPY 1,000,000,000
Investor: Furukawa Automotive Systems Inc. (investment ratio: 100%)
Established: Jan. 16, 2012 (Date of Certificate issued by SEC, Republic of the Philippines)
Operational launch: Scheduled for March 2013
Number of employees: Approx. 2,500 (Planned for the end of 2014)
Inquiries:
HR General Affairs Division, Furukawa Automotive Systems Inc. Phone: 0749-38-4150
IR / Public Relations Unit, Furukawa Electric Co., Ltd. Phone: 03-3286-3049