STERLING HEIGHTS, MI– Key Safety Systems has formed a new joint venture with Yanfeng Visteon Automotive Trim Systems, based in Shanghai, China. With 2004 revenues expected to exceed $1 billion, Yanfeng Visteon is the largest interior trim manufacturer in China, and one of the largest producers of steering wheels.
Located Southeast of Shanghai, the new partnership will be called Yanfeng Key Automotive Safety Systems Company, Ltd.
Initial products to be produced by the joint venture include airbag modules and systems, steering wheels and shift knobs. Additional offerings may expand to the production of other safety system components such as seat belts.
The venture includes the construction of a new 100,000-square-foot technical center with full vehicle crash test sled, as well as airbag and steering wheel prototyping, design and development capabilities.
The joint-venture is the latest stage in a long-term plan set in motion when Carlyle Management Group acquired Key Safety Systems through its Key Automotive Group affiliate in 2003. The plan focuses on continuous cost improvement, financial stability, improved quality, delivery and customer responsiveness and strategic revenue growth.
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