Aisin Unveils North American Growth Plans, Announces New Sunroof, Drive Train Business With OEMS

DETROIT, March 8 -- Aisin World Corp. of America (AWA), one of the world's leading Tier One automotive components suppliers, today announced that total sales of Aisin Group companies in North America exceeded $1.5 billion in 2003. The announcement was made by AWA President Junichi Nishimura at the 2004 SAE World Congress in Detroit.

"We have been on the fast track in North America and have developed strong relationships with our original equipment manufacturer partners," said Nishimura. "In 2001, AWA sales were less than $1 billion; today I am pleased to announce that we are projecting to exceed $2 billion in sales by 2005 and $2.7 billion in sales by 2007."

Nishimura said the company's rapid growth is primarily due to a steady increase in Toyota business, consisting largely of body components, coupled with the expansion of manual and auto transmission business with the Big Three and Toyota, plus the incremental growth of business in sunroofs.

"Aisin's body components and sunroof unit is currently our largest North American business segment," said Nishimura. "All body components sold by AWA to North American customers are produced locally at our four North American manufacturing facilities," he said.

Nishimura added that Aisin's drive train business segment has experienced dramatic growth and is expected to supply well over 500,000 manual and automatic transmissions to OEMs in 2005.

To keep pace with its business expansion, Aisin has established and expanded several production facilities, including:

1. Aisin Light Metal, Inc., Marion, Ill. - established in August 2003 for the production of aluminum extrusions;

2. Aisin Automotive Casting Tennessee, LLC, Clinton, Tenn. - established in January 2004 as Aisin's second engine components plant;

3. Advics North America - purchased two manufacturing facilities: Advics Manufacturing, Inc., Lebanon, Ohio, and SAFA, LLC, LaGrange, Georgia

4. AW North Carolina, Inc., Durham, NC - this facility is expanding its production capacity and will start assembly of complete automatic transmissions in May 2005.

Based in Plymouth, Mich., AWA is a subsidiary of the Aisin Group, headed by Aisin Seiki Co., Ltd. with corporate offices in Kariya City, Aichi, Japan. The Aisin Group is a Tier One supplier of automotive components such as body parts, drive train components, engine related parts, brakes and chassis parts, and information related products with more than 44,000 employees worldwide. In North America, the Aisin group has 24 manufacturing, R & D and sales centers and employs some 6,400 associates. The company expects to employ well over 10,000 associates by 2007.