Siemens, Yazaki Form Electronic Auto Systems – S-Y Systems Technologies Europe GmbH and S-Y Systems Technologies America L.L.C. formed – Statistical Data Included

Siemens, Yazaki Form Electronic Auto Systems – S-Y Systems Technologies Europe GmbH and S-Y Systems Technologies America L.L.C. formed – Statistical Data Included – Brief Article

Siemens AG and Japanese auto systems company Yazaki Corp. launched two companies to develop and sell electronic systems for vehicles made by three top carmakers. One component of the 50-50 joint venture, called S-Y Systems Technologies, America LLC, will be based in Dearborn, Michigan and employ about 300 people, the firms said. The other joint venture company, called S-Y Systems Technologies, Europe GmbH, will be based in Regensburg, Germany, and will employ about 200 people, the companies said.

The organizations will provide technical systems to Ford Motor Co., BMW AG and Renault SA, the companies said. A third joint venture, based in Germany and called S-Y Wiring Technologies GmbH, will employ about 5,000 worldwide.

Privately held Yazaki will hold a 75 percent stake in the wiring venture, while Siemens will control the remaining 25 percent, the companies said.

“This partnership with Yazaki multiplies the capabilities of both our companies in developing, producing and supplying our automotive customers with innovative, world-class electrical and electronic systems and components,” John Sanderson, chief executive of Siemens Automotive-North America, said in a statement.

COPYRIGHT 2001 International Trade Services

COPYRIGHT 2001 Gale Group