BDA advises SRG Global on strategic global alliance with FALTEC
Formed strategic global alliance with FALTEC in Japan
Business Development Asia (“BDA”) is pleased to announce that SRG Global, Inc., based in Warren, Mich., USA, one of the world’s leading providers of advanced high value coatings on plastics for the automotive, commercial trucking and household appliance industries, and FALTEC Co. Ltd., a global manufacturer and supplier of automotive parts and accessories based in Kawasaki, Japan, have established a strategic alliance designed to provide manufacturing, design and development support to customers on a global scale. Kevin Baird, SRG Global president and CEO, and Kazuhiko Toida, president of FALTEC, made the announcement jointly.
The relationship strengthens capabilities of the respective companies and allows for strategic coordination of activities such as design, engineering and manufacturing coordination with respect to certain products, according to Baird.
“From its inception in 2009, the goal of SRG Global has been to offer our customers a global resource for decorative products,” said Baird. “This relationship creates a means by which SRG Global and FALTEC can expand their ability to offer global product offerings and collaboratively provide global development, engineering and manufacturing expertise for the benefit of our customers.”
Areas in which collaboration could occur, and resulting benefits for customers, include:
- Leveraging of global capabilities and facilities that create manufacturing efficiencies
- Global design and development capabilities to minimize development and tooling costs, and shorten product development cycles on cooperative projects, and
- Accelerated development in areas of technology and manufacturing best practices
FALTEC traces its history in Japan to 1917 with the founding of Hashimoto Iron Works (later Hashimoto Forming Industry Co., Ltd.). In 2005, Altia Co., Ltd. (formerly Nissan Auto Sales Co. Ltd.) and Hashimoto merged to form Altia Hashimoto Co. Ltd., consolidating management under FALTEC Co. Ltd. In 2007, FALTEC absorbed the automobile parts / accessories business of Altia Hashimoto and became an operating holding company.
FALTEC has 11 locations in Japan, including five manufacturing facilities. It also has manufacturing facilities in China (three), Indonesia, the Philippines, the United Kingdom and the U.S. Its product portfolio includes grilles, window molding, bumpers and door sashes.
The aim of this relationship is to increase competitiveness of each company by rapidly providing high quality and innovative products and services to their customers, within the context of the fast-paced globalization of the automotive industry.
“Through this relationship, which grew out of customer requirements for global supply capabilities, certain development, technology and manufacturing will be shared on targeted projects aimed at expanding supply capabilities and efficiencies. As a result of this, complementing regional footprint and opportunities, and possibly exploring joint procurement opportunities, the global quality, cost, development and delivery will be heightened. This will lead to an expansion in the global business capabilities for both companies,” according to Toida.?
BDA Deal Team
Charles Maynard, Senior Managing Director, New York
Jeff Acton, Managing Director, Tokyo
Noriyuki Sonoda, Senior Advisor, Tokyo
Andy Bryant, Analyst, Tokyo Mathew Ferguson, Analyst, Tokyo
About SRG Global
SRG Global Inc., a Guardian company, is one of the world’s leading manufacturers of chrome plated plastic parts for the automotive, commercial truck and household appliance industries, with a manufacturing presence in North America, Western and Central Europe and China. The company is headquartered near Detroit in Warren, Mich., USA. Through its Advanced Development Center in Taylor, Mich., SRG Global works to enhance manufacturing processes and accelerates development and delivery of the next generation of materials and coating technologies. The result is the creation of products that provide not only the decorative attributes eagerly sought by designers, but that are also engineered for greater surface durability, structural integrity and enhanced functionality. For more information, please visit www.srgglobal.com
About Business Development Asia
Business Development Asia LLC (“BDA”) assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 60 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA’s clients include Areva, AXA Private Equity, Celestica, Clariant, DIC, Ecolab, Hercules, Kennametal, Molex, Nalco, Pfizer, Rexel, Reuters, Ryder, SigmaKalon, Sun Chemical, Tredegar, WestLB, and the British Government. Further information on BDA is available at www.bdapartners.com
For more information regarding this transaction, please contact Charles Maynard in New York on (212) 265 5300 or Jeff Acton in Tokyo on (81) 3 3433 5803.
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