INERGY AUTOMOTIVE SYSTEMS TAKES OVER NISSAN'S PLASTIC FUEL SYSTEMS ACTIVITIES AND STARTS AUTOMOTIVE PARTS PRODUCTION IN JAPAN
Tokyo - Solvay Automotive Asia KK, an affiliate of INERGY AUTOMOTIVE SYSTEMS, the joint company created by SOLVAY and PLASTIC OMNIUM which will be operational in September 2000, announces the signature, on July 31, 2000, of an agreement to acquire the plastic fuel systems production assets of Nissan Motor Co., Ltd. in Japan. .
These activities will be concentrated on two sites, in Oppama (west of Tokyo) and in Japan's Southern island of Kyushu. The effective transfer of production is scheduled to take place from November 2000 to April 2001.
The purchasing of NISSAN's plastic fuel systems business will give the joint company INERGY AUTOMOTIVE SYSTEMS the capacity to respond immediately to local demand and lays the foundations of a development on the Japanese market. The sites of Oppama and Kyushu are ideally located to supply Japan's major car manufacturers. As part of the deal, INERGY AUTOMOTIVE SYSTEMS has committed to supporting the Nissan Revival plan, as NISSAN revives its business worldwide.
"Whereas a substantial part of cars produced in Europe and in the United States are now equipped with plastic fuel tanks, the Japanese automotive industry still relies essentially on steel tanks. The shift to plastic is nevertheless picking up pace. The Japanese market consequently holds the promise of a substantial growth" says Vincent Pairet, President of Solvay Automotive Asia.
SOLVAY is an international pharmaceutical and chemical group headquartered in Brussels (Belgium). It employs about 33,000 people in 50 countries. In 1999, its consolidated sales amounted to EUR 7.9 billion, generated by its four sectors of activity: and Pharmaceuticals, Chemicals, Plastics and Processing. SOLVAY is in the process of merging its fuels systems activities with those of COMPAGNIE PLASTIC OMNIUM (France). The new 50/50 owned company, INERGY AUTOMOTIVE SYSTEMS, is scheduled to be operational in September 2000. It will have an annual production of approximately 9 million tanks and total sales of about EUR 1 billion, with some 30 sites spread over 17 countries in 2001.
