The AP Amortiguadores SA (APA) facility in Northern Spain, set to become Kayaba's key production base for shock absorbers in Europe.
Information: 01285 658844
Date: December 2003
KAYABA TO EXPAND MANUFACTURING OPERATIONS IN EUROPE
Kayaba Industry to acquire 100% ownership of AP Amortiguadores SA
Kayaba Industry Co Ltd has announced that in February 2004 it is to acquire the 75% shareholding in AP Amortiguadores SA (APA) currently held by ArvinMeritor.
APA is currently an affiliated company of Kayaba in northern Spain, with Kayaba owning a 25% share. The move will make APA a wholly owned subsidiary. APA manufactures automotive shock absorbers for the European original equipment (OE) market and aftermarket, supplying major car manufacturers such as Ford, Renault, Peugeot, Toyota, Nissan, Audi-VW Group, Mitsubishi, Daimler-Chrysler, Suzuki and General Motors.
The acquisition will make the APA plant Kayaba’s key production base in Europe, enabling the company to pursue its worldwide automotive shock absorber supply strategy.
Commented Mr Hajime Sato, Managing Director of Kayaba Europe: "To meet the needs of our vehicle manufacturer and aftermarket distribution customers on a global basis, we recognise Europe, North America, Japan and Asia as our four principal regions. By increasing our ownership in APA to 100%, we will be able to considerably strengthen our production and supply position, and be better placed to meet the specific needs of our European customers.
"This is a truly significant move for Kayaba and its KYB brand of automotive shock absorbers, and one that will give us a major advantage in the marketplace," he added.
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Note to Editors
Company name: AP Amortiguadores SA
Founded: 5 July 1975
Company location: Ororbia, Navarra region, northern Spain
Representative director: Jose Ignacio Murillo (after the acquisition)
Products: Automotive shock absorbers
Number of employees: 780
Paid-in capital: EUR 13.3 million
Shareholders: (number of shares)
Current After the acquisition
Kayaba Industry Co Ltd 553,650 2,214,600
ArvinMeritor Inc 1,660,950 0
For further information, please contact: Sue Clough
Kayaba UK
Tel: 01925 417444
E-mail: sue@kayaba.co.uk
Issued by: Jeremy Clarke
LawsonClarke Ltd
Tel: 01285 658844
E-mail: clarke@lawsonclarke.co.uk
Ref: KYB19/2003
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The AP Amortiguadores SA (APA) facility in Northern Spain, set to become Kayaba's key production base for shock absorbers in Europe. Information: 01285 658844 |