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March 17, 2004
    
Metal One to Establish NIFAST Hungary Kft.
Just-in-Time Delivery & Sales of Automotive Fasteners
 

Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Masashi Mizutani) will open NIFAST Hungary Kft. in Esztergom, Hungary, on June 1 as part of its global fastener operations.

The new company - an inventory and sales company with several hundred different fasteners (bolts and nuts) mainly for automotive applications - will create a just-in-time delivery system, providing fasteners and small automotive parts used by carmakers and automotive parts makers. The Metal One Group already operates fastener inventory and sales companies(1) in the areas of North America (USA, Canada and Mexico), China and Thailand. In tandem with recent decisions on global strategies by automakers, Metal One decided to open its first procurement center in Europe.

The new company plans to hire 15 people, including locals, and will begin delivering products in October 2004. Initially, the company will procure most of its products from Japan, but as Hungary will be formally admitted into the EU in May 2004, the new company will also procure products from EU countries to take advantage of customs duty exemptions and other EU benefits.

Metal One is also considering operations in Czech, Poland, the Netherlands, Germany and other European countries. In line with horizontal deployment in Europe, mainly for fasteners for carmakers and automotive parts makers, Metal One aims to further strengthen its ties with the processing manufactures and fastener makers in the Metal One Group in order to build an optimum procurement network and global value chain, including in areas such as India.

Details:  
  1. Name:   NIFAST Hungary Kft.
  2. Headquarters:   H-2500 Esztergom, Schweidel u.50 Hungary
  3. Board members:   Yasuharu Iwasaki, president
Naosuke Aimi, representative director
  4. Capitalization:   ¥50 million
  5. Main shareholder:   Metal One Corporation (100%)
  6. Establish date:   June 1, 2004
  7. Scale of operations:   Approximately ¥2 billion (FY2005 forecast sales)

(1)Fastener distributors with original quality control and engineering capabilities whose strength is just-in-time delivery, mainly for automotive assembly makers and parts makers. Other characteristics include their positioning of supply bases at the doorstep of major users and their services which are closely tailored to the needs of their customers. Metal One already deploys a wide network of such distributors in North America and is establishing a similar presence in China.

 
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