• February 6, 2014

SEIREN Starts Business Alliance Negotiations with SCHMITZ

Seiren Co., Ltd. (“SEIREN”) and Tuchfabrik Willy Schmitz GmbH &Co. KG (“SCHMITZ”), a company engaged in manufacturing and sales of automotive interior fabric in Europe, have agreed to start discussion for business alliance in automotive interior textile business, aiming for a conclusion of an agreement by the end of April 2014. SEIREN and SCHMITZ will announce the progress where appropriate.

1. Purpose of Business Alliance

For automotive business, SEIREN has promoted globally optimal supply system by having oversea production plants in USA, Brazil, Thailand, China, India and Indonesia. For the purpose of expanding business globally, SEIREN has started to discuss with SCHMITZ on business cooperation in marketing, technical assistance, production and sales.

With this business alliance, SEIREN and SCHMITZ will meet the customer’s request on globalization by creating stronger global system in automotive business with the aim to expand the business.

2. Details of Business Alliance

1. Scope

Automotive textile business for all OEM
(Car interior fabric, etc)

2. Contract Details Collaboration for business expansion of both companies Cooperative marketing and marketing support
Technical assistance for development, design and production of automotive interior fabric
3. Others Further details will be discussed and agreed by both companies in the agreement.

3. Company Outline (SCHMITZ)

1. Company Name

Tuchfabrik Willy Schmitz GmbH & Co. KG

2. Business Manufacture of automotive interior fabric products and garment products
3. Foundation 1928
4. Capital EUR 1.5 million
5. Location Mönchengladbach, GERMANY
6. Owner Andreas Schmitz, Markus Schmitz
7. Annual Sales EUR 29 million
8. Employee 145

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