NTN Transmission Europe (hereafter NTE), a constant velocity-manufacturing subsidiary of NTN Corporation (hereafter NTN) has decided to acquire the Crézancy Plant of SETFORGE, a leading forging manufacturer in France on June 1, 2008. The Crézancy Plant is NTE's main forging supplier.
Background of Acquisition
· Crézancy 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 Crézancy Plant's techniques.
Outline of the new company
·Company name : NTN Transmissions Europe Crézancy (after acquisition)
·Business lines : Development, manufacturing, and sales of CVJ outer ring forgings
·Location : Crézancy(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 Crézancy 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 Crézancy Plant]
Forging from Crézancy
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