Toshiba Announces Merger With Harison Electric
8 March 2000
Toshiba Lighting America, Inc. Announces Merger With Harison Electric U.S.A., Inc. at SAE 2000
DETROIT--March 7, 2000--Toshiba Lighting America, Inc., (TLAI) a leading supplier of automotive lighting to the major domestic and transplant OEMs, announced today that a definitive agreement has been reached to merge Toshiba Lighting America, Inc. with Harison Electric U.S.A., Inc. The merger will be effective April 1, 2000. The name of the new company has not yet been announced. Mr. Steve Freeman, President and Chief Operating Officer of Harison Electric will continue as President and COO of the new operation. Mr. Masaaki Iio has been appointed as the Chief Executive.
In a subsequent merger scheduled for completion October 1, 2000, Harison Electric Co., Ltd., headquartered in Imabari, Japan will take over the Industrial Products & Equipment Division of Toshiba Lighting & Technology Corporation (TLT). A subsidiary of Toshiba Corporation, TLT is headquartered in Tokyo, Japan. The reorganization and consolidation of these companies is expected to strengthen resources and improve efficiencies in meeting the demands of rapidly changing global markets. By utilizing Toshiba Group's advanced research and development systems, Harison Electric will be able to increase its product range through improved technology and innovation.
Harison Electric U.S.A., Inc.
Harison Electric, is the world's largest supplier of automotive wedge based incandescent lamps and a dominant source for emerging lighting technologies such as cold cathode fluorescent lamps utilized for back lighting LCD displays with a sixty per-cent global market share. Harison has received numerous awards and accolades and is a recipient of the General Motors' Supplier of the Year award. The company is ISO9001, ISO14000 and QS9000 Certified. Harison Electric is currently exhibiting at the SAE 2000 World Congress in Detroit - Booth 641.