TOKYO, April 3, 2014 _ Ube Industries, Ltd. today announced that its consolidated subsidiary and centerpiece in the UBE Group's machinery business, Ube Machinery Corporation Ltd., has established a subsidiary in Mexico for the servicing and maintenance of machinery. The subsidiary, named UBE Machinery Mexico S.A. de C.V., is based in Irapuato, Guanajuato and started operations in April 2014. UBE Machinery Inc., a wholly-owned, US-based subsidiary of Ube Machinery Corporation, also owns a stake in the Mexican subsidiary.
In recent years, manufacturers in the automotive sector have expanded their production facilities in Mexico, taking advantage of its geographic proximity to the United States as well as the country's free trade agreements with various countries and large pool of labor.
Until now, the UBE Group provided user support for machinery in Mexico through UBE Machinery Inc. based in Ann Arbor, Michigan, U.S.A. By establishing a local subsidiary in Mexico, the Group will be positioned to provide rapid and comprehensive support according to the needs of users. The subsidiary will also strengthen future market development and sales efforts, to accelerate the growth of the UBE Group's machinery business in Mexico.
|Company Name||UBE Machinery Mexico S.A. de C.V.|
|Location||Irapuato, Guanajuato, Mexico|
|Business Description||Servicing and maintenance of metal and plastics processing machines|
|Start of Operation||April 2014|
|Capital Stock||3,916,000 Mexican pesos|
|Shareholders||Ube Industries, Ltd. (50%), UBE Machinery Inc. (50%)|
|Representative||Yasuhiro Inoue, President (Presently President of UBE Machinery Inc.)|
|Location||Ann Arbor, Michigan, USA.|
|Business Description||Sales, servicing and manufacturing of metal and plastics processing machines|
|Start of Operation||US$17 million|
|Shareholders||Ube Industries, Ltd. (100%)|
|Representative||Yasuhiro Inoue, President|