Asia
Hi-Lex Establishes Shanghai Subsidiary for Door Module Production in East China
Automotive equipment manufacturer Hi-Lex (TYO:7279) has completed the establishment of Shanghai Hi-Lex Automotive a specified subsidiary in China's Jinshan District, following its April disclosure.The new company, with registered capital of 473 million yen, was established on Aug. 14 with capital paid on Aug. 18, and is 50.4% indirectly owned by Hi-Lex, according to a Tokyo bourse filing on Wednesday.The subsidiary will manufacture and sell door modules for the East China region, bringing production closer to key customers due to the large size of the products.Hi-Lex expects the new plant to contribute to long-term performance.
TYO:7279
