Martinrea International Inc. Announces Strategic Relationship With Yamada Manufacturing Co., Ltd.

TORONTO, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Martinrea International Inc. (TSX : MRE), a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, today announced a strategic relationship with Yamada Manufacturing Co., Ltd. based in Gunma, Japan. Yamada specializes in the development and manufacturing of chassis, drive units, and powertrain components. The strategic relationship signifies a broader global manufacturing footprint for Martinrea in Japan, encompassing Yamada's production expertise and network.

"Yamada brings a deep understanding of the Japanese market and provides an outlet for additional collaboration and growth with our customers," said Pat D'Eramo, President and CEO, Martinrea International Inc. Yamada and Martinrea share several Japanese OEM customers already and this relationship allows us to further expand our capabilities as a global supplier of aluminum castings."

Martinrea and Yamada have signed a memorandum of understanding allowing the two entities to work together in the Japanese market. Initially, Martinrea and Yamada plan to seek opportunities to jointly promote lightweight solutions within automotive, including electric vehicles, through large aluminum diecast for body and chassis parts. Martinrea will utilize its expertise in manufacturing parts with stringent mechanical performance criteria, both with and without heat treatment.

"By enhancing our capabilities in Japan, we're elevating our global offerings to better serve our worldwide customer base," said Peter Cirulis, Executive Vice President, Aluminum Business Unit and Lead, Lightweight Structures Commercial Group. "It was important to select a Japan-based partner whose values align with our drive for new breakthrough opportunities, pioneering innovations and advancing the forefront of die-casting design and manufacturing."

"We look forward to collaborating with Martinrea in the aluminum die-casting business," said Sato Masaru, President of Yamada. "I believe that by combining our technologies and expertise in aluminum casting, we can deliver lightweight solutions that provide a higher value to customers around the world. This is the implementation of the Yamada Group's brand message, ?Creating the Desired,' and we are confident this relationship will be a good initiative for both companies."

Itochu Corporation will also be involved in providing low carbon aluminum and support in some Supply Chain Management activities.

ABOUT MARTINREA INTERNATIONAL INC.
Martinrea International Inc. (TSX: MRE) is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea currently operates in 58 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa and Japan. Martinrea's vision is making lives better by being the best supplier we can be in the products we make and the services we provide. For more information on Martinrea, please visit www.martinrea.com. Follow Martinrea on LinkedIn, X and Facebook.

ABOUT YAMADA MANUFACTURING CO., LTD.
Yamada Manufacturing Co., Ltd. is specialized in development, design and manufacturing auto parts for the critical function of "driving, steering and braking" including transmission components, steering system components and variety pumps, particularly oil and water pumps for automobiles and motorcycles. Yamada operates in Japan, United States, China and Thailand. Yamada's Philosophy is working together as a technology-oriented corporation to provide value beyond customers' expectations in a creative and original way, and to spread joy to people all over the world. For more information on Yamada, please visit www.yamada-s.co.jp.

MEDIA CONTACTS:

Deanna Lorincz
Global Director, Communications and Marketing
Martinrea International Inc.
[email protected]
Tel: 248.392.9727 | Mobile: 586.634.1766

Toshiyuki Miyajima
Director, Business Management Operations Division
Yamada Manufacturing Co., Ltd.
[email protected]
Tel: +81.270.40.9111