Kazuo Kato, CEO of K.S. of West Virginia Co. Ltd. (KSWV) in Ravenswood, W.Va., and president of Kato Seisakusho Co. Ltd. in Nagoya, Japan, announced today a joint venture between KSWV and ASKA Corp. in Kariya, Japan.
A.K. of West Virginia Corp., a 50/50 ownership between the two companies in a $10 million combined investment, will create as many as 100 jobs.
"We look forward to our continued friendship with West Virginia. Today's announcement is evidence of the confidence we feel in our business here as well as the certainty of the success we will share as we work together in the future," Kato said.
Plans for the new company, to be located beside KSWV in Ravenswood, were solidified during a spring meeting in Nagoya, Japan among Kato, ASKA Corp. President Keisho Katayama, U.S. Sen. Jay Rockefeller and West Virginia Gov. Joe Manchin.
"We are so pleased to align ourselves with a company such as K.S. of West Virginia," Katayama said. "Its strong leadership and skilled workforce will be key assets for this new venture."
A.K of West Virginia Corp. will be a metal stamping company manufacturing small- to medium-sized precision parts, which also will perform welding and assembly, to serve the automotive industry.
K.S. of West Virginia Co. Ltd., which incorporated in West Virginia on Oct. 12, 1995, is a wholly-owned subsidiary of Kato Seisakusho Co. Ltd. in Nagoya, Japan.
Kato Seisakusho Co. Ltd., founded in 1949 as a toy car manufacturer, is now a world leader in precision metal stamping, plastic molding, die-making and assembly. Kato Seisakusho Co. Ltd.’s other subsidiaries include Chihiro Co. Ltd. in Nagoya, Japan; Beyonics Precision Stamping Pte. Ltd. in Singapore; Ranee Precision Co. Ltd. in Inchon, South Korea; and, Shanghai Aigi Automotive Parts Co. Ltd., now under construction in Shanghai, China.
ASKA Corp., established in 1953, manufactures automobile parts, switchboards and robots. The company has an office in Cincinnati, Ohio.
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