Sumida and Panta GmbH Sign Joint Venture To Produce and Sell Flat Flex Cable Products and Coil Components to Automotive Customers Worldwide.Business Editors NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com and at www.newstream.com ROLLING MEADOWS Rolling Meadows, city (1990 pop. 22,591), Cook co., NE Ill., a suburb of Chicago; inc. 1955. There is research and development and the manufacture of office supplies and electronic components. , Ill.--(BUSINESS WIRE)--Aug. 29, 2001 Sumida Corporation, Tokyo, a leading manufacturer of electronic components for the automotive, computer and telecommunications industries, recently announced it has signed a joint venture agreement with Panta GmbH, Radeberg, Germany, a leading manufacturer of Flat Flex(TM) cable used in automotive power and control applications, and jumpers used in telecommunications industrial automation, control equipment and measurement. Known as Panta Sumida, America, this joint venture will serve as a unique source for manufacturing, marketing and supplying Flat Flex cable Flexible Flat Cable, or FFC, refers to any variety of electrical cable that is both flat and flexible. However, the term FFC usually refers to the extremely flat cable often found in high density electronic applications like laptops and cell phones. locally to automotive customers and jumpers for various applications in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. and NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's markets. "Sumida is thrilled to join forces with Panta," said Harsh Koppula, president of Sumida America Sales, a subsidiary of Sumida in Rolling Meadows, Ill. "There is great demand for Panta's Flat Flex cable in the automotive electronics industry, which gives designers more flexibility to bend PC boards without disconnecting them. In addition, the cable passes the high vibration requirements of the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. . We are pleased to incorporate Panta's Flat Flex cable into Sumida's automotive power and control applications." "We at Panta have had a number of electronics components companies express an interest in partnering with us to manufacture our Flat Flex cable," said Maurizio Massimo, director of sales at Panta. "We chose to partner with Sumida because of the company's technical expertise. Sumida has technology centers around the world, staffed by some of the best engineers in the field. We feel confident to share our product line with Sumida." In addition, Panta wanted to get into the NAFTA market. "We were impressed with Sumida's three manufacturing facilities in Guadalajara, Mexico, which distribute to NAFTA customers," said Massimo. "The plants also meet our high standards for quality, matching our facilities' ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 and QS 9000 certifications." Panta's Flat Flex cable and jumpers will soon be manufactured at Sumida de Mexico S.A. de CV in Guadalajara. Sumida recently opened this facility to cater to its NAFTA customers, moving a portion of its standard coil division from China, which has been manufacturing coils for automobiles since 1950. The sales and marketing of Panta's products in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. is handled by Sumida America Sales, headquartered in Rolling Meadows with sales offices throughout North America. Both Sumida and Panta have expressed a desire to form a global joint venture application in the near future for the Asian and European markets. Panta GmbH is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Radeberg, Germany. The company presently supplies Flat Flex(TM) products, among others, to a number of German and European automotive customers. For more information, please visit the company's Web site at www.panta.de. Sumida Corporation is a publicly held company traded on the Tokyo stock exchange Tokyo Stock Exchange Main stock market of Japan, located in Tokyo. It opened in 1878 to provide a market for the trading of government bonds newly issued to former samurai. and is a leading supplier of electronic coils to the computer, telecommunications and automotive markets worldwide. Based in Tokyo, Sumida has five manufacturing facilities in Asia, four manufacturing facilities in North America, and sales offices and subsidiaries throughout Asia, Europe and North America. The North American subsidiary of Sumida, Sumida America Sales, Rolling Meadows, Ill., is responsible for the marketing and sale of Sumida's magnetics, gas discharge Gas discharge A system made up of a gas, electrodes, and an enclosing wall in which an electric current is carried by charged particles in response to an electric field, the gradient of the electric potential, or the voltage between two surfaces. tube surge arrester, and relay products for the telecommunications, data communications and automotive markets in North America. Sumida America Manufacturing has three manufacturing facilities in Guadalajara, Mexico. For more information, please visit the company's Web site at www.sumida.com. Note: A Photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.082901/bb5 |
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