AISIN Group Establishes Aftermarket Company in Panama
Jun. 27, 2019
Aisin World Corp. of America (AWA), Northville, Mich., USA, a consolidated subsidiary of Aisin Seiki Co. Ltd, announced today that it has entered into a joint venture with Leon Import, S.A. (Leon), an Aftermarket import and sales company located in Panama's Colon Free Trade Zone to establish Aisin Sales Latin America, S.A. (ASLA). The new company, which became effective June 25, 2019, will serve customers in the Central and South American and Caribbean markets.
In August, 2018, AISIN Group launched its Aftermarket Virtual Company to expand its business. The group plans to double its Aftermarket sales of FY 2018 to 80 Billion JPY by FY 2022 by expanding and strengthening its global Aftermarket structure. ASLA is part of that plan, following a capital and business connection agreement in Thailand in March, 2019, and establishment of an Aftermarket sales company in Shanghai in April, 2019.
AWA and Leon will consolidate their sales activities in the new company to build an effective framework to provide products and service to existing customers, and to expand the business in new markets. And, as a result of its location near the Central, South American and Caribbean markets, the new company will plan the products fulfilling the local needs by timely collaboration between AWA and the Aftermarket division of Aisin Seiki. ASLA will launch a new distribution center and "Aisin Shops" in countries where additional opportunities exist to shorten the delivery lead time and to improve service.
1. Name：Aisin Sales Latin America, S.A.
2. Location：The Colon Free Zone, Republic of Panama
3. Capital fund：500,000 USD (About 57,000,000 JPY)
4. Investment ratio：Aisin World Corp. of America 70 % Leon Import 30%
5. President：Scott Turpin
6. Products：Automotive aftermarket products
7. Established：June 2019
8. Number of Employees：17 (as of establishment, including current personnel)