Brose and Shiroki Sign Cooperation Agreement

    NAGOYA, Japan, March 12 On 14 February 2001 the Brose
Group, with its headquarters in Coburg (Germany), and the Shiroki Corporation,
Toyokawa, signed a cooperation agreement in Toyokawa/Japan.  The aim of this
cooperation is the joint development of window regulators, door systems and
seat adjusters for vehicle platforms, which will be produced in Japan as well
as in Europe.
    Within the scope of this cooperation, both companies have further agreed
on a worldwide manufacturing strategy which will include their existing
locations.  The intention is to work on the acquisition of orders and the
development of products in joint project groups, to exchange not only
existing products in each partner's markets but also personnel and know-how
as well as supplying each other with products and components.
    Following this cooperation agreement, a joint venture company in Japan is
to be set up with each partner having a share of 50%.  It is conceivable that
there may be further joint ventures in Europe and in other expanding markets.
    In the year 2000, the Brose Group achieved a business volume of DEM 2.75
billion (about Yen 154 billion).  This independent family business is one of
the world's leading manufacturers of adjustment systems for vehicle windows,
doors and seats with 5,000 employees working at 15 locations in Europe,
North and South America, Asia and Africa.
    The Shiroki Corporation, one of the large Japanese manufacturers of
automotive components, achieved a turnover of 79.5 billion (single)/Yen 106
billion (consolidated) in the business year 2000 (31.03.2000).  At Shiroki
there are 2,000 employees engaged in the development and production of seat
recliners and seat adjusters, window regulators, door frames and other
vehicle components at 10 locations in Japan, Vietnam and the United States
of America.

    Further Information about the Brose-Groupe: http://www.brose.de