JTEKT : sold its hydroelectric pump manufacturing site, as part of the European structural reform.

JTEKT Corporation (Head Office: Kariya City, Aichi Prefecture, President and CEO: Kazuhiro Sato, hereinafter referred to as "JTEKT") has decided to transfer its pump manufacturing business in France to ACI Groupe (Head Office: Lyon City, France, President and CEO:Philippe RIVIERE (hereinafter referred to as "ACI") ,in order to reform its European business structure.

JTEKT is working to eliminate deficits in its European business. To achieve this target, we are continuing to carry out structural reforms such as consolidation of bases and selection and concentration of businesses.This agreement was reached because the optimization of the JTEKT Group's European business portfolio and ACI's business strategy matched.

ACI Groupe Profile

French company founded in 2019. It provides subassembly manufacturing, service and maintenance for industries such as aviation, railways and new energy solutions.

JTEKT Group's pump business in the European market

The Blois Plant and Chennevieres R&D Center of JTEKT EUROPE S.A.S, the local subsidiary, develop and produce oil pumps in Europe. Main production items are hydroelectric pumps for electric hydraulic power steering, for electric vehicles, for industrial machinery.

Prospect in Europe business

JTEKT Group will continue to strengthen its structure with a focus on the break-even point. In particular, regarding our European business, we will continue to consolidate bases, select businesses, and carry out intensive structural reforms, with the aim of getting out of the defict structure. And we aim to grow business in Europe that can contribute to the earth, society, and customers.

Reference : https://www.acigroupe.com/

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JTEKT Corporation published this content on 03 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 April 2024 02:10:01 UTC.