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Posted: 01 Nov 2011 06:30 PM PDT

International Automotive Components Group, the auto-parts maker owned by billionaire Wilbur Ross, said it is expanding in Asia through joint ventures with a Malaysian supplier in its home country and in Thailand.

IAC will own 60 percent of a venture in Thailand with APM Automotive Holdings Bhd, while in Malaysia, IAC will hold a 40 percent stake, Ross's company said yesterday in a statement. IAC and APM said they will design, engineer and manufacture instrument and door panels, floor consoles, flooring and acoustics, package trays and rocker panels for global automakers and domestic companies in the region.

"IAC considers the ASEAN region to be very important," Jim Kamsickas president of IAC North America and Asia, said in the statement. "APM and IAC share similar visions for business, along with core competencies and experience in automotive interiors, comprehensive manufacturing capability and commitment to providing exceptional customer satisfaction."

Ross assembled IAC through 14 takeovers starting in 2006. IAC, which makes instrument displays, door panels and headliners, had sales of about US$3.75 billion in 2010, 6 percent of it in Asia. The company employs about 22,000 people in 16 countries. It had net income of US$25 million last year and US$3 million in this year's first half, according to a registration statement Luxembourg-based IAC filed with the U.S. Securities and Exchange commission.

In September, IAC delayed a planned initial public offering of its stock until at least January because of market turmoil in the U.S. and Europe, two people familiar with the matter said last month.

IAC's North American headquarters are in Southfield, Michigan. Jens Hohnel, president of the Europe division, is co- chief executive officer with Kamsickas. -- Bloomberg

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AirAsia Japan to add long-haul flights in 2013

Posted: 01 Nov 2011 06:33 PM PDT

AirAsia Japan Co, the start-up airline backed by the region's biggest low-cost carrier, will add long-distance flights in 2013 as it seeks to lure holidaymakers and budget travelers with cheap flights.

The airline may offer services to Thailand, Indonesia and Singapore after introducing widebody Airbus SAS A330 planes, Chief Executive Officer Kazuyuki Iwakata said in interview yesterday. The company will begin short-haul routes from Tokyo's Narita airport in August with single-aisle A320s.

AirAsia Japan may order the A330s with part-owner AirAsia Bhd. to help win lower prices, Iwakata said without elaboration. The Japanese carrier is also counting on AirAsia's regionwide operations and marketing to help it carry 10 million passengers annually within five years.

"We don't view our competitors as ANA and JAL as much as resorts such as Tokyo Disney Resort," Iwakata said, referring to full-service carriers All Nippon Airways Co and Japan Airlines Co. "We're aiming at families who want to enjoy the weekend or people who play Pachinko -- we want them to be able to think about taking a flight as easily as they would hop on a bus."

The new airline, part-owned by ANA, intends to lure passengers with fares as much as two-thirds cheaper than traditional carriers. It will compete with Skymark Airlines Inc, Japan's biggest budget carrier, and Jetstar Japan, a low- cost venture being set up by JAL and Qantas Airways Ltd.'s budget unit. ANA is also backing Peach Aviation Ltd, another planned no-frills carrier that will serve western Japan.

Separately, Singapore Airlines Ltd also yesterday detailed plans for a new long-haul discount carrier, Scoot, which will begin flights next year. -- Bloomberg

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Kredit: www.nst.com.my

Selasa, 1 November 2011

NST Online Business Times : latest

NST Online Business Times : latest

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