KARIYA, Japan -- Aisin Seiki Co. will sell part of its brake business to Advics Co., a joint venture Aisin helped start with Toyota Motor Corp.
The deal includes the sale of stock and property of Japan’s AS Brake Systems to Advics by April 1, along with a portion of the supplier’s plant in Kariya, Japan. In July, Aisin’s North American arm will reassign Aisin Brake and Chassis of Terre Haute, Ind., to Advics’ U.S. unit.
Advics was formed in July 2001 through the combination of brake businesses from powertrain and electronics supplier Denso Corp., electronics company Sumitomo Electric Industries Ltd. and Toyota.
Aisin has supplied brake system components to Advics since its founding and will continue to do so, said Scott Wolfe, senior manager of purchasing and corporate planning for Advics North America.
Aisin Seiki, of Kariya, makes body systems, brakes and chassis systems, electronics and drivetrain and engine components.