Jan. 30, 2020
AW Maintenance Co., Ltd. and AI Machinetech Co., Ltd. Concludes Business Merger Agreement
Aisin AW Co., Ltd. (hereinafter, "AW") and its consolidated subsidiaries, AW Maintenance Co., Ltd. (Head Office: Anjo City, Aichi Prefecture; President: Kiyotaka Uchida; hereinafter, “AW-M”) and AI Machinetech Co., Ltd. (Head Office: Anjo City, Aichi Prefecture; President: Norikazu Ota; hereinafter, “AIAM”) held discussions toward the business merger of AW-M and AIAM with a view to completing it in April 2020. Today, the two companies concluded an agreement on the matter.
1. Purpose of the merger
In addition to responding to anticipated future electrification needs, toward the effective use of existing transmission equipment, this merger aims to unite the know-how and resources of both companies, further strengthen the equipment business, and improve management efficiency.
2. Overview of the agreement on the merger
(1) Schedule of the merger
|Date of agreement||January 30, 2020|
|Effective date||April 1, 2020 (scheduled)|
(2) Method of the merger
It is planned that AW-M and AIAM will merge, with AIAM being dissolved and AW-M becoming the surviving company.
(No change in the company name, location of the Head Office, capital or business description will be made due to this merger.)
3. Overview of the companies to be merged
|Surviving company||Company to be dissolved|
|Company name||AW Maintenance Co., Ltd.||AI Machinetech Co., Ltd.|
|Location of Head Office||80-1, Nishiotsubo, Higashibata-cho, Anjo City, Aichi||4-21, Kitaogi, Izumi-cho, Anjo City, Aichi|
|Established||November 1988||August 1974|
|Capital||90 million yen||24 million yen|
|Shareholders||Aisin AW Co., Ltd.: 100%||Aisin AW Co., Ltd.: 100%|
|Representative||Kiyotaka Uchida||Norikazu Ota|
|Number of employees||123 (as of December 2019)||20 (as of December 2019)|
|Business description||Equipment design, manufacture, sale, repair, modification, overhaul; blade regrinding, jig manufacture, etc.||Equipment design, manufacture, sale, repair, modification, overhaul|
The entire Aisin Group will continue with united efforts to respond flexibly to the changing needs of society and further strengthen its competitiveness.