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- Acquisition of Business License for New Joint Venture (Incorporation) in China
Acquisition of Business License for New Joint Venture (Incorporation) in China
November 29, 2012
Nippon Light Metal Holdings Co., Ltd.
Nikkeikin Aluminium Core Technology Co., Ltd.
Nikkeikin Aluminium Core Technology Co., Ltd., (Shinagawa-ku Tokyo, President: Mikio Shimizu, hereinafter referred to as Nikkeikin ACT), which is a group company of Nippon Light Metal Holdings Co., Ltd. (Shinagawa-ku Tokyo, President: Takashi Ishiyama, hereinafter referred to as Nikkeikin) today announced it has established a joint venture with Changchun Intercity Railway Vehicle Equipment Co., Ltd., (Changchun City Jilin Province, People’s Republic of China, Chairman: Li Jian) to produce and sell aluminum parts for passenger cars, railroad trains, underground railways, and other transport related facilities and has now been issued a business license from the authorities.
Purpose of the Joint Venture
Recently in China, urban railway transit is rapidly being developed with increased traffic demand in light of the remarkable economic development. Against this market backdrop, Nikkeikin ACT, utilizing its strength in the field of railways in Japan, has established its fourth site in China centered on machining and bonding technology as a joint venture with Changchun Intercity Railway Vehicle Equipment Co., Ltd., which operates railway equipment business in the northeastern part of China. The company aims to develop business not only in the field of railways but also in transportation equipment.
As a result, Nikkeikin Act will have established four manufacturing sites in China in areas near points of demand, including those in the cities of Shenzen of Guangdong Province, Shanghai, and Longkou of Shandong Province.
Outline of Joint Venture
|Name of Joint Venture：||Changchun Nikkei Railway Vehicle Equipment Co., Ltd.|
|Date of Establishment：||October 8, 2012|
|Legal Residence：||Luyuan Economic and Tech Development Zone, Changchun City, Jilin Province, People's Republic of China|
|Paid-in Capital：||30 million Chinese Yuan (approximately 400 million yen)|
|Shareholder Composition：||Nikkeikin Aluminium Core Technology Co., Ltd. 50％|
|Changchun Intercity Railway Vehicle Equipment Co., Ltd. 50％|
|Chief Executive Officer：||