Marubeni acquires VTEC

01-Aug-06

Marubeni America Corporation (MAC- the largest overseas subsidiary of Marubeni Corporation of Japan) has acquired an estimated 15% equity position in VTEC Technologies LLC (VTEC), the innovative plastics technology company, for its patented plastic automotive rear view mirror products, polymeric coatings and glazing products and other related patented technologies, in June 2006. VTEC is a Tier II supplier of patented plastic automotive rear view mirror subassembly components to the automotive industry with manufacturing plants located in China and India. VTEC is headquartered in Southfield MI with central operations in Coventry UK, and offices in Bergerac, France and Cambridge MA and has plans to manufacture over 5 million plastic automotive rear view mirrors in 2007 replacing the conventional glass rear view mirror on vehicle.