JAPAN: Calsonic Kansei, Seiko Malaysia compressor JV announced
Seiko Instruments will move Calsonic Kansei compressor production from Japan to the new venture to reduce manufacturing costs, the report said. Calsonic Kansei will hold a 51% stake and Seiko Instruments 49%.
The new 2 billion yen (US$16 million) Malaysian factory should start production by March 2002, AutoAsia Online said.
The 2002/03 sales target is 2.9 billion yen, the report added.