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

Yuki Juro juro@seiren.eu