Aisin to Open a New Plant in the US
Recently, it has transpired that AW Texas, a U.S. subsidiary of Aisin AW Co., will build a new production site in Cibolo, Texas that will give numerous workplaces to the region.
This initiative was confirmed during the talks
between the Cibolo City Council and Guadalupe County Commissioners Court, on
the one side, and Aisin representatives on the other. The authorities of the
region gave the green light to tax concessions and economic encouragements for
AW Texas. The world-known producer of transmission solutions is ready to devote
four hundred million dollars in a production facility. The actual construction
work is planned for September of this year.
News report related to the topic
The twenty year agreement with the City of
Cibolo includes a tax relief on 75% of real-estate taxes for the 1-st decade, 50%
for the next 5 years, and 30% for the remaining period. It is estimated at $9.6
mln over the period of the agreement.
According to the economic effects research, the
development will bring a $36 mln payroll to Cibolo and is assumed to provide an
annual net income of $3.7 mln to the city and $4.5 mln to the county in sales
and property taxes.
Satoru Kasuya, AW-Texas representative, during the meeting with Cibolo authorities
Headquartered in Japan, Aisin AW was founded half
a century ago. The company is specialized in production of different types of
transmission solutions, transfer cases and car navigation units.
Earlier this year, Aisin AW said about its
intentions to enhance automatic transmission production capacity in the USA.
Apart from the new plant, Aisin also has 2 production facilities on the US
territory in Michigan and North Carolina.
The new facility will be specialized in production of automatic and hybrid transmission solutions. It is expected that the new plant will produce approximately 200,000 units annually.
