ROCKWELL TO ESTABLISH JOINT VENTURE TO PRODUCE AUTOMOTIVE COMPONENTS IN CZECHOSLOVAKIA
ROCKWELL TO ESTABLISH JOINT VENTURE
TO PRODUCE AUTOMOTIVE COMPONENTS IN CZECHOSLOVAKIA
FRANKFURT, Germany, July 8 /PRNewswire/ -- Rockwell International Corp. (NYSE: ROK) today announced that the Ministry of Privatisation of the Czech Republic has approved the formation of a Rockwell joint venture in Czechoslovakia to develop, manufacture and market automobile components and systems.
The joint venture, Rockwell's first in the former Eastern European region, must be approved by the Czech Republic's Economic Council.
Kent M. Black, Rockwell's executive vice president and chief operating officer, said, "Creation of the joint venture will take place in two steps, between now and 1994, and from the beginning, the business will be under Rockwell's control and majority ownership. The company will be virtually wholly owned by Rockwell and will be known as Rockwell Automotive Body Systems - Liberec.
"Rockwell is pleased to have this opportunity to join Czechoslovakia in this important phase of the restructuring of the country's automotive industry. Rockwell will be able to contribute significantly to this venture because we serve original equipment manufacturers worldwide," Black added.
The joint venture company will assume control of existing facilities in Liberec, Czechoslovakia, located approximately 75 miles northeast of Prague, Czechoslovakia, and plans to make substantial new investments there. The company will develop, manufacture and market window regulators, seat slides and other Rockwell Automotive Body Systems products to serve VW/Skoda and other automobile manufacturers in Czechoslovakia as well as customers throughout the world.
The Liberec plant, a major supplier to the automobile industry in Czechoslovakia, will be integrated into Rockwell's overall Automotive Body Systems network. The integration will include extensive worker training programs to achieve "world class" manufacturing performance.
The Rockwell Automotive Body Systems business designs, develops and manufactures roof, door, access control and seat adjusting systems for the automobile industry. The company operates engineering and manufacturing centers in North America, Europe, Australia and Japan.
In Europe, Rockwell Automotive Body Systems employs 4,300 at 13 plants in France, Germany, Italy, Spain and the United Kingdom. European sales amounted to $580 million in fiscal year 1991.
The company supplies Japan-based automakers with components made in European factories and is now "importing" technology and processes to Rockwell facilities in North America where it has been able to win contracts to provide components to U.S. "Big Three," Japanese and European automakers with North American assembly operations.
Rockwell International is a multi-industry company applying advanced technology to a wide range of products in its electronics, aerospace, automotive and graphics businesses.
/CONTACT: R.H. Pacini of Rockwell Automotive, 313-435-1752/
(ROK) CO: Rockwell International Corp.; Rockwell Automotive Body
Systems - Liberec ST: California IN: AUT SU: JVN JL-EH -- LA012 -- 7268 07/08/92 08:07 EDT