Hitachi Cable Ltd. said Wednesday it has agreed with Corning Cable Systems LLC of the United States to set up a 50-50 joint venture next month for the manufacture of optical fiber cable in Japan.
Advanced Cable Systems Corp. will launch operations at a facility in Hitachi, Ibaraki Prefecture, in August, but its capitalization and headquarters location have yet to be decided, Hitachi Cable said in a news release.
Corning Cable will shift its manufacturing facility in North Carolina, which produces optical fiber cable for the Japanese market, to the Hitachi plant. Products to be made at the plant will be sold under the companies' brand names separately.
The new firm aims for annual sales of 25 billion yen, Hitachi Cable said.
Corning Cable is a unit of Corning Inc. of the U.S.