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Announcement of Ground-breaking Ceremony for JATCO México, S.A. de C.V. (CVT manufacturing plant) JATCO Ltd (JATCO, Headquartered in Fuji City, Shizuoka Prefecture, Japan, President & CEO: Hisayoshi Kojima, capitalization: 29.9353 billion yen), automatic and continuously variable transmissions (CVT) manufacturer, is pleased to announce that it held the Ground-breaking Ceremony of the plant for its subsidiary, JATCO México, S.A. de C.V. iPresident: Katsufumi Ito, Headquartered in Aguascalientes City, Aguascalientes Statej on January 8, 2004 (México time). To establish its first overseas manufacturing base, JATCO set up its Mexican subsidiary, JATCO México, S.A. de C.V. in May 2003 and have made preparations to start the construction of the plant. The preparations have been completed and the Ground-breaking Ceremony was held today. Full-scale construction of the new Mexican plant will start this month and is scheduled to be completed in October. Full-fledged production of medium-sized continuously variable transmissions (CVT) is scheduled to start in the middle of 2005. At the initial stage of production, approximately 700 employees will work at the new JATCO facility. JATCO expects to begin producing steel-belt CVTs for medium-sized front-wheel-drive vehicles in 2005 with the initial production capacity of around 300,000 units/year. Future expansion of CVT demand is anticipated to increase the capacity to around 700,000 units. The new Mexican plant will establish a manufacturing base in NAFTA towards further growth and globalization of JATCO. Through the establishment of the new plant, JATCO is aiming at further expanding the sales of AT/CVTs in NAFTA, the largest AT/CVT market. Hisayoshi Kojima, JATCO's CEO made a speech at the Ground-breaking Ceremony of the new plant as follows: "For further growth and globalization of JATCO, JATCO México is designed to establish the manufacturing base in NAFTA. In response to the tightening CAFE regulations, CVT is recognized as an important technology to improve the fuel efficiency in NAFTA. Accordingly, demand for CVT is expected to steadily expand. Taking advantage of CVT, JATCO is determined to accelerate its globalization. I would like to extend my cordial gratitude to the state of Aguascalientes and Nissan Mexicana colleagues, who provide us the greatest support on this project." Outline of JATCO's new plant in México
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