Toronto, Ontario – Nov. 13, 2018 – Martinrea International Inc. (TSX : MRE) today celebrated the official opening of its new commercial and engineering office in Tokyo, Japan. The opening event included greetings and introductions from executives, and appearances from Canadian embassy officials, customers, suppliers, collaborative partners and other stakeholders.
Martinrea’s new office will support the global Japanese Original Equipment Manufacturers (OEMs) by providing immediate engineering assistance and simultaneous engineering services, program management capability, and technology support. The new office assists new launch programs with Toyota and Honda, and continued nurturing of its relationship with Nissan, which recently recognized Martinrea’s Springfield, Tennessee and Silao, Mexico plants as significant suppliers.
“Our lightweight structures and propulsion systems technologies meet the automotive industry’s advanced mobility solutions,” said Pat D’Eramo, President and CEO of Martinrea. “Our new commercial and engineering office will allow us to work side-by-side with our customers to support them with solutions to curb vehicle weight while at the same time improving the vehicle’s overall strength, safety and efficiency.”
Mak (Makoto) Sano started working with Martinrea International in 2016 and was appointed Vice President, Martinrea Automotive Japan Inc. Mr. Sano will oversee the new office and brings more than 35 years of commercial and engineering experience in global automotive supplier industry to this role, including his extensive knowledge of Japanese OEMs.
“To expand our full capability with Asian OEMs, we want to provide immediate support from a commercial and engineering perspective,” said Robert Fairchild, Executive Vice President of Sales and Engineering for Martinrea. “We have a growing book of business with Asian OEMs, and have won new annual business when fully launched of approximately $170 million in just the past year. Our new office will build on our increasing success with Asian-based customers.”
To establish an effective base in Japan, the Japan External Trade Organization (JETRO) provided consultation on registration, taxation, and labor matters; introduced service providers such as a recruitment agency; provided market and incentive information; and, made referrals to local governments.
About Martinrea International Inc.
Martinrea International Inc. (TSX: MRE) is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and aluminum products. Martinrea currently employs approximately 15,000 talented and motivated people in 45 operating divisions in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, Japan and China. Martinrea's vision is making lives better by being the best supplier we can be in the products we make and the services we provide. For more information on Martinrea, please visit www.martinrea.com.
Global Director, Communications and Marketing
Tel: 248.392.9767 | Mobile: 586.634.1766
Fred Di Tosto
Chief Financial Officer
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. The words “continue”, “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “views”, “intend”, “believe”, “plan”, “outlook” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances, such as expected sales and industry production estimates, current foreign exchange rates (FX), timing of product launches and operational improvements during the period and current Board approved budgets. Any forward-looking financial assumptions are presented as non-IFRS information, and we do not provide reconciliation to IFRS for such assumptions. Many factors could cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, those that are discussed in detail in the Company’s Annual Information Form, including risk factors, and other public filings which can found at www.sedar.com.