Date: March 2003

After successfully developing its European business in Germany, the UK, France and Italy, Kayaba Industry Company Ltd, one of the world’s largest manufacturers of shock absorbers and suspension components, has now officially opened its fifth European office in Spain.

The new facility which is located near Madrid, comprises offices and a 1,200 square metre warehouse with a stockholding of 35,000 components.

Six members of staff have been recruited to run the new business, which will be managed by Juan Carlos Díez. Sr. Díez lives in Madrid, has a background in the automotive sector and is a graduate from Basque Country University. He has a degree in Commercial Business Administration, as well as a Masters Degree in marketing. He commented: "Our aim is to quickly establish Kayaba in Spain and grow market share by raising our profile and promoting the rapidly expanding range of suspension products."

Kayaba estimates that the Spanish market accounts for some 1.5 million shock absorbers a year, and is looking to take a market share of approximately 5% in its first 12 months of operation. The Spanish customer base is largely made up of independent distributors, giving excellent coverage across the whole country, and Kayaba's customers will be supplied from the warehouse in Madrid, with additional support as required from its European central warehouse in France.

Commented Mr Sato, managing director of Kayaba Europe: "We are committed to rapidly developing our presence in Spain and growing market penetration of our KYB branded shock absorbers and associated products, by focusing on the highest possible standards of service and customer satisfaction."

"As we have done in other countries, we will give customers every assistance with both commercial and technical aspects, and our highly skilled team will work closely with them to ensure the delivery of top quality products when and where they want them, while also helping to develop a strong and lasting business relationship," he added.

The new company is called Kayaba España, and located at Avenida de la Industria, 4. 28820 Coslada-Madrid. For further information please contact Juan Carlos Díez on 00 34 91 674 6470.

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Kayaba Industry Company Ltd is Japan’s leading hydraulics manufacturer with a revenue of approximately $1.8 billion. 60% of sales are from automotive shock absorbers, and it is the world’s largest supplier of shock absorbers to vehicle manufacturers, with a 23% market share. Of the 55 million pieces manufactured each year, around 8 million are destined for the aftermarket, where worldwide it has an 8% share. In key European markets - notably France, Germany, the UK, Italy and now Spain - Kayaba is making considerable in-roads and already has a market share of around 15%.

Ref: KYB04/2003