Release time : 2015-06-15 08:30:25
NTN Transmission Europe (hereafter NTE), a constant velocity-manufacturing subsidiary of NTN Corporation (hereafter NTN) has decided to acquire the Cr|zancy Plant of SETFORGE, a leading forging manufacturer in France on June 1, 2008. The Cr|zancy Plant is NTE's main forging supplier.
Background of Acquisition
Cr|zancy Plant is an important forging manufacturer which supplies about 50% of NTE?s total forging procurement and uses high-level forging techniques for CVJ parts, including an in-house capability to design and manufacture dies.
NTN will increase its CVJ market-share in Europe as well as establish a stable procurement system for CVJ parts while expanding local procurement.
NTN will achieve further quality improvements and cost-cutting through faster product development by combining NTN's forging know-how with the Crzancy Plant's techniques.
Outline of the new company
Company name : NTN Transmissions Europe Cr|zancy (after acquisition)
Business lines : Development, manufacturing, and sales of CVJ outer ring forgings
Location : Cr|zancy(Picardie, Aisne, France)
Sales : approx. 2,000 million yen (shipments made only to NTE in 2007)
Employees : approx. 100 (December 2007)
Acquisition cost : approx. 400 million yen
Outline of SETFORGE
Business lines : Development, manufacturing, and sales of forgings for automobiles and industrial machinery
Established : 1906
Head quarters : France
Business office : 4 plants (excluding Cr|zancy Plant) in France.
6 business bases (Germany 1, Spain 1, India 1, Taiwan 1, and USA 2)
Sales : approx. 18,000 million yen (Fiscal 2006)
[Reference:Location of Czancy Plant]