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Japanese cable maker HI-LEX sets up subsidiary in Guangdong
Shanghai. December 13 (Gasgoo.com) - Japanese cable maker HI-LEX has set up a subsidiary company in Guangzhou province to produce and sell auto parts products, Japanese newspaper Nikkei News reported today.
The 900 million yen project, wholly owned by HI-LEX will start to produce cable and window regulator in the third quarter next year. The company will supply these products to Japanese automakers in Guangzhou area.
The subsidiary, with 350 employees, is expected to achieve an annual sales value of 2 billion yen by 2009, Nikkei News said.
Founded in 1946, HI-LEX is a Japanese company specialized in producing cable and medical equipment. It supplies auto part products for Toyota, Honda, Nissan, Mitsubishi, General Motors and Ford Motor.
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