Hitachi, Corning Cable Systems team up to serve Japanese market
Jan. 17, 2002
January 16, 2002--The 50/50 venture, to be called Advanced Cable Systems Corp., will use equipment that Corning Cable Systems will ship from its North Carolina facility to Japan.
Hitachi Cable Manchester (www.hcm.hitachi.com) has announced that its parent company, Hitachi Cable Ltd., will enter a 50/50 joint-venture agreement with Corning Cable Systems (www.corningcablesystems.com) to establish a new company that will manufacture fiber-optic cables specifically for the Japanese end-user market.
The new company, tentatively named Advanced Cable Systems Corp., will manufacture fiber-optic cables from raw glass. As part of the consolidation, Corning Cable Systems plans to transfer existing equipment in North Carolina, which is dedicated exclusively to the manufacture of products for the Japanese market, to the new company to be located in Hitachi City, Ibaraki Prefecture, Japan. Likewise, Hitachi Cable Ltd. Will also transfer fiber-optic manufacturing equipment, presently in Japan, to the new facility.
The two companies say they expect definitive agreements to conclude this month, with manufacturing beginning in August.
