Japanese Auto-parts Maker Sets up Aluminum Wheel Joint-venture in China

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Last updated at: (Beijing Time) Friday, August 08, 2003

Japanese Auto-parts Maker Sets up Aluminum Wheel Joint-venture in China

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Japan's major auto-parts maker Asahi Tec Corp. said Thursday it has set up an aluminum wheel manufacturing and sales company in south China's Guangdong Province under a joint venture with two Chinese auto-parts manufacturers.

Asahi Tec's investment in Dicastal Asahi Aluminium Co., marks its first investment overseas since the company based in Shizuoka Prefecture came under the wing of US investment fund Ripplewood Holdings LLC in May.

The company judged that there will be demand for aluminum wheels in China with a surge in demand for cars, according to the company.

Dicastal Asahi Aluminium, with a capital of about 600 million yen (5.04 million US dollars) and slated to begin production in February next year, is expected to manufacture about 1 million aluminum wheels annually.

Asahi Tec has a 25 percent stake in the new firm, while Wheelhorse Aluminium Casting Co., based in Guangdong Province, hasa 55 percent share and Dicastal Wheel Manufacturing Co., based in north China's Hebei Province, has a 20 percent stake.

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