ANDERSON, Ind., Feb. 17 /PRNewswire/ -- Remy International, Inc., ("Remy")
and Johnson Electric Holdings Limited ("Johnson Electric") based in Hong Kong,
announce the signing of a strategic cooperative agreement. Under the terms of
the agreement, Johnson Electric will supply Remy with components, motor
assemblies and support services for Remy's Wholly Foreign-Owned Enterprise
("WFOE") located in Shajing, Shenzhen, in the Guangdong province of China.
Remy will lease a 17,000 sq.m. plant to produce alternators and starters
for the emerging China market and to support Remy's expanding worldwide
customer base. This strategic alliance will supplement Remy's current
alternator manufacturing plant, Remy Electricals Hubei Co., Ltd. and the Remy
Customer Support Center in Shanghai. Remy's WFOE will be positioned to offer
a reliable, low-cost, manufacturing base for production activities, focusing
on the China domestic market, which is expected to grow from 5.7 million
vehicles in 2005 to more than 8.7 million by 2010.
"Johnson Electric's integrated manufacturing base in China combines supply
chain efficiencies and scale advantages in production and procurement.
Together, Remy and Johnson Electric share common business strategies for best
total cost solutions essential in the expanding world automotive markets,"
said Mike Alma, Remy's Vice President of Asia Pacific Operations, who is now
based in Hong Kong.
Remy International, Inc., is headquartered in Anderson, Indiana (USA).
The company designs, manufactures, remanufactures and distributes electrical,
powertrain and related components and provides core exchange services for
automobiles and light trucks, heavy-duty trucks and other heavy-duty, off-road
and industrial applications. Products include starter motors, alternators,
engines, fuel systems and hybrid drive systems. The company serves the
aftermarket and original equipment manufacturer market, principally in North
America, as well as Europe, Latin America and Asia Pacific.
Johnson Electric is a motor industry growth leader, providing micro motors
and integrated motor systems to global customers in the automotive, power
tools, home appliances, business equipment, audio-visual and personal care
sectors. Design engineering centers are located in Hong Kong, Italy, China,
Japan, Israel and the USA. Johnson Electric Holdings Limited is listed on the
Hong Kong Stock Exchange (code 179) and is a constituent of the Hang Seng
Index.
More information is available at the following companies' websites:
http://www.johnsonelectric.com
http://www.remyinc.com
SOURCE Remy International, Inc.
 back to top
Related links:
http://www.remyinc.com
http://www.johnsonelectric.com
Company News On-Call:
http://www.prnewswire.com/comp/111635.html
CONTACT:
John Pyzik of Remy International, Inc.,
+1-765-778-6607
|
