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yNEWS RELEASEz
June 10, 2002
FUJITSU TEN and GRUNDIG, the leading German Manufacturer of TV and Audio, Agreed on Strategic Partnership in Car Multimedia Business
FUJITSU TEN LIMITED (FUJITSU TEN) and
Grundig
AG (GAG) have agreed on establishing
a strategic
global partnership in the field of
Car Multimedia.
According to this alliance, Grundig
Car InterMedia
System GmbH (GCIS), GAG's subsidiary
in the
design and manufacture of car multimedia
products, and FUJITSU TEN collaborate
in
the development, production and sales/marketing
of car multimedia products such as
car navigation
systems and telematics products, and
so on.
The partnership enables the two companies
to combine their technologies and expand
their global production and sales/marketing
infrastructures. Thus, it allows them
to
boost the efficiency of the development
of
car multimedia incorporating advanced
digital
and network technologies, and also
to establish
enhanced worldwide infrastructure to
respond
to the rapidly globalizing automobile
industry.
As a result, the companies will mutually
sharpen their competitive edge in the
market
as global players.
FUJITSU TEN presently supplies car
audio
products to Japanese automobile companies
operating in Europe and car audio parts
to
European automobile parts manufacturers.
Through the newly formed alliance,
FUJITSU
TEN will not only expand sales to automobile
makers in Europe but also launch in
the after-market
product market to establish the hi-end
image
of ECLIPSE brand.
GCIS currently supplies products to
European
car companies as factory-fitted and
dealer
option basis, and also promotes after-market
product business. Through the affiliation,
GCIS aims to further expand business
in European
market and increase sales to European
car
companies operating outside the European
region.
GCIS was established as a wholly owned
subsidiary
of GAG. According the agreement, FUJITSU
TEN obtains a 25.1% share of GCIS from
GAG.
to strengthen the collaboration relationship
[Outline of FUJITSU TEN LIMITED]
| Address: |
1-2-28 Gosho-dori, Hyogo-ku, Kobe-shi, Hyogo,
Japan |
| Capital: |
\5,300,000,000 |
| Sales: |
\174,600,000,000 on consolidated basis (fiscal
2001) |
| Representative: |
Takamitsu Tsuchimoto, president |
| Number of employees: |
6,697 persons on consolidated basis (as of
end of March 2002) |
| Production plants: |
Kobe City, Hyogo, Japan; Nakatsugawa City,
Gifu, Japan; Oyama City,
Tochigi, Japan; U.S.A.; Mexico;
Philippines;
China; and Thailand |
| Business line: |
Manufacture and sales of Infortainment products(audio,
car navigation, mobile communication products),
and automotive electronic devices (ECUs for
airbags, and others) |
[Outline of Grundig AG]
| Head office: |
Nuremberg, Germany |
| Capital: |
396,000,000 euro |
| Sales: |
1,281,000,000 euro |
| Date of establishment: |
1945 |
| Representative: |
Dr. Hans-Peter Kohlhammer, president |
| Number of employees: |
5,383 persons (as of end of December 2001) |
| Factories: |
Austria, England, U.S.A. |
| Business line: |
Manufacture and sales of home audio-visual
products such as TVs and VCRs |
[Outline of Grundig Car InterMedia System
GmbH]
| Head office: |
Nuremberg, Germany |
| Capital: |
12,000,000 euro (wholly owned by GAG) |
| Sales: |
193,000,000 euro
(including sales between January and September
2001 prior to separation from GAG) |
| Date of establishment: |
October 1, 2001 |
| Representative: |
Udo R. Krauss, president |
| Number of employees: |
849 persons (as of end of December 2001) |
| Factories: |
Braga, Portugal |
| Business line: |
Manufacture and sales of car audio-visual
products |
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