Automax Batterier - Fusjonering Yuasa Corporation (YUASA) & Japan Storage Battery Co. Ltd

Fusjonering Yuasa Corporation (YUASA) & Japan Storage Battery Co. Ltd

Merger between Yuasa Corporation (YUASA) and Japan Storage Battery Co. Ltd will create one of the World’s largest storage battery companies with annual sales of 264 billion Yen

Yuasa Corporation (YUASA) and Japan Storage Battery Co., Ltd. (JSB) have agreed in principle to merge under a jointly incorporated holding company, The merger will create one of the world’s largest storage battery companies with annual sales of 264 billion Yen and 12,000 employees worldwide, including around 1,000 in the UK. Subject to regulatory and shareholder’s approval, the merger will be effective on April 1st, 2004 by incorporation of the new holding company. The name of the new holding company will be GS Yuasa Corporation.

The new enterprise will focus on innovative product development, satisfying global customers, and operating efficiencies initiatives. The Directors have three reasons for their confidence in achieving those goals. First, the new company’s combined entities have 28 manufacturing operations in 14 countries, which can deliver high quality products on time to meet the requirements of global customers. Second, the new company has greater R&D resources to develop world-class, innovative products for the next generation of storage batteries. Finally, the new company can consolidate its logistics, production, sales/marketing and the procurement to significantly improve its cost structure. Thus, with the vision of “Innovation and Growth”, the new company will have a strong platform to sustain medium and long-term growth and become one of the global leaders among electrical storage battery manufacturers.

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