Hutchinson, a wholly-owned subsidiary of TotalFinaElf, has completed a strategic agreement with Tokai Rubber Industries Ltd in the field of high and low pressure fluid transfer systems*. Combined sales of both companies for this activity are in the range of $1 billion.

This initial agreement was signed in order to comply with Renault-Nissan’s global strategy concerning their first shared common platform. Continued discussions should enable both companies to conclude an extended agreement in the near future.

This alliance positions "Hutchinson and Tokai Rubber Industries" as one of the most efficient world leaders for fluid transfer systems in terms of quality, service and price in the area of automobile equipment.

The alliance has technical centers in France, Germany, Japan, the United States and Brazil. Hutchinson has production facilities in Europe (Czech Republic, England, France, Germany, Italy, Poland, Portugal, Spain), five in the US (Michigan and Tennessee), two in South America (Argentina and Brazil) and one in Asia (China). Tokai Rubber Industries has several production facilities in Asia (Japan, Thailand and China) and two in the US (Ohio and Tennessee).

The two partners will retain control of their respective operations.

Hutchinson, one of the world leaders in rubber transformation for automotive, industrial and consumer products, had 1999 sales of $2,307 million.

Tokai Rubber Industries, one of the world leaders in the supply of rubber products to the Japanese automotive industry, had 1998/99 sales of $1,500 million.