Nexans to supply automotive wires to Ryosei
Paris, April 3, 2002 - Nexans, the worldwide leader in the cable industry, has been awarded a contract by Ryosei Electro-Circuit Systems, a subsidiary of Mitsubishi Cable, for the supply of automotive wires to Kyushu factory in Japan. Nexans will supply the Japanese firm with 3000km of AVSS 0.5 SQ per month from February to July 2002.
Nexans developed the Lead-Free PVC Wire in June 2001, which passed Ryosei's strict technical tests in November 2001, and signed the contract for the initial order in December 2001. Japanese car manufacturers are renowned for their strict technical requirements for suppliers, and it is a real endorsement of the quality of Nexans product to be awarded this contract. Through this contract with Ryosei, Nexans expects to develop its automotive activities by diversifying its customer base in Japan and throughout the rest of Asia.
Yvon Raak, President of Nexans' Energy Division, said : "We are delighted and proud to be a partner of Ryosei. This contract reinforces our drive to expand our activities in Asia. The strict tests that we have had to pass to become a supplier of Ryosei are proof of our products' technical performance."
Manufacture of AVSS 0.5 SQ began last month at the Nexans South Korea plant in Cheongwon.
Nexans in Korea
In March 2001, Nexans has acquired 51% of the share capital of Daesung Cable (now called Nexans Korea). With a consolidated turnover of 135 million USD in 2000, 30% of which represents exports, the company is the fourth-largest cable manufacturer in South Korea where it employs 190 people
Nexans is the worldwide leader in the cable industry. The Group brings an extensive range of advanced copper and optical fiber cable solutions to the infrastructure, industry and building markets. Nexans cables and systems can be found in every area of people's lives, from telecommunications and energy networks, to aeronautics, aerospace, automobile, railways, building, petrochemical, medical applications, etc. With an industrial presence in 28 countries and commercial activities in 65 countries, Nexans employs 17,500 people and had sales in 2001 of euros 4.8 billion. Nexans is listed on the Paris stock exchange. More information on www.nexans.com
Ryosei is one of subsidiaries of Mitsubishi cable and their main items are included wire harness and connector. Sales amount including wire harness and connector is around 260MIL.EURO (30billion Yen) per year. The technical specification of Ryosei is very strict to satisfy its customer's demand. Ryosei has 4 wire harness factories in Japan and 11 factories are abroad.