SWS News FY 2013
Issued on July 5, 2013
Established company in Russia that manufactures and sells wiring harnesses for automobiles
For the purpose of supplying wiring harnesses for automobiles to customers in Russia, Sumitomo Electric Industries, Ltd. (Head Office: Chuo-ku, Osaka, President: Masayoshi Matsumoto, hereafter SEI) and Sumitomo Wiring Systems, Ltd. (Head office: Yokkaichi, Mie Prefecture, President: Osamu Inoue, hereafter SWS) have decided to jointly establish a holding company in the Netherlands with OAO Zavod Radioapparatury, a manufacturer of communication devices and wires (Head Office: Ekaterinburg, Sverdlovsk, Russia, Representative: S. Novoseltsev, hereafter ZRA), and to establish an operating company, as a wholly owned subsidiary of the holding company, that manufactures and sells wiring harnesses for automobiles in Russia. The joint venture agreement is scheduled to be concluded in the middle of July 2013.
As a global supplier of wiring harness for automobiles, the network of SEI and SWS includes 98 companies in 31 countries.
Recently in Russia, the production and sales volume of automobiles has steadily increased. As continuous growth is expected, many major automobile manufacturers and automobile parts manufacturers have established companies in Russia. In these circumstances, SEI and SWS have deliberated on developing operations in Russia, and decided to establish a manufacturing and sales base in Russia, through a joint venture with ZRA, who have been considering a tie-up with a global supplier.
More specifically, it is planned that Sumitomo Electric Wiring Systems (Europe) Limited (hereafter SEWS-E), a wiring harness business control subsidiary in the United Kingdom, will invest 51% and ZRA will invest 49% to establish a holding company, and then establish a manufacturing and sales company in Russia as a wholly owned subsidiary of the holding company. Fully utilizing the production and quality related expertise that has been accumulated globally, we will strive to meet the expanding demand in Russia
[Outline of joint venture company]
[About Sumitomo Electric Wiring Systems (Europe) Limited]
Public Relations Group, Public Relations Department, Sumitomo Electric Industries, Ltd. TEL: +81-6-6220-4119
Public Relations Group, General Affairs Department, Sumitomo Wiring Systems, Ltd. TEL: +81-59-354-6201