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News of October 24, 2000
Visteon
Corporation Partners with Kayaba Industry To Develop Advanced Steering
Systems
Dearborn,
Mich. and Tokyo - In an effort to cooperate globally for the development
of market driven, cost efficient steering components and systems, Visteon
Corporation and Kayaba Industry Company, Ltd., have signed a strategic
partnership agreement with an intent to design and develop the next
generation of steering systems for the automotive industry.
Both
Visteon and Kayaba have complementary expertise in the areas of design,
manufacturing and sales of hydraulic and electric automotive steering
components and systems such as hydraulic power assisted steering,
electrical power assisted steering, pumps, gears and four-wheel steering
systems. Together the two companies anticipate strengthening their
relationship with OEM customers across the globe, combining Visteon's
global reach with Kayaba's strength within the Asia-Pacific region.
"Visteon
is continually looking to find ways to expand aggressively into the
Asia-Pacific market with products and systems that are core to our
business," said Ed Buker, Visteon vice president and general manager,
Chassis Systems. "This strategic alliance with Kayaba will capitalize
on our systems expertise, while gaining Kayaba's support across the key
Asia-Pacific customer base."
This
alliance allows for the companies to jointly pursue the cooperative supply
of components resulting in cost efficiencies, technology sharing and
global manufacturing support. It will provide the two companies the
opportunity to greatly shorten product development time, while achieving
significant manufacturing cost reduction.
"Kayaba
is aiming to become a global systems supplier of automobile steering
products, similar to the shock absorber business. With a strategic
collaboration with Visteon, Kayaba anticipates maximum synergistic effects
in terms of R&D, production, and purchasing of components," said
Junichi Yamamoto, Kayaba's managing director, Automotive Parts Division.
"This alliance with Visteon will enhance quality, cost, and delivery
of the respective steering products and we are pleased to better serve
existing and new customers around the world."
(October 17, 2000)
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