Delco Remy and Hitachi Establish Joint Venture, Hitachi Remy Automotive

July 31, 2001 by Jeff Shepard

Delco Remy International Inc. (Anderson, IN) and Hitachi Ltd. (Japan) have established a new joint venture, Hitachi Remy Automotive GmbH (Switzerland). The initial alliance will be the foundation for a global partnership to develop, manufacture and market automotive starting motors and alternators in European and North American markets. Delco Remy and Hitachi will share their starter/alternator technologies and jointly introduce products to the global market through their existing worldwide manufacturing operations and sales organizations.

The joint venture will commence operations in Europe and North America and initially will supply some of Hitachi's and Delco Remy's existing customers. The venture will begin joint sales and marketing efforts in the targeted markets immediately. Support manufacturing will begin in Poland and Mexico in 2002. The partnership will provide new customer opportunities for Delco Remy and give Hitachi a better position to support its global customers via the extensive Delco Remy manufacturing plants already in place.

Delco Remy International President and CEO Thomas Snyder said, "This partnership will combine two market leaders with reputations for strong business strategies, leading technologies, quality performance, competitive value and consistent sales growth. We are confident that this venture will help both of our companies serve customers with new technologies, more efficient production and distribution capabilities."