Clarion Co., a leading maker of car audio equipment, said Thursday it will liquidate its subsidiary Clarion Electronics (Singapore) Pte. Ltd. on March 31, 2004, as part of operational restructuring.
The Singapore subsidiary was founded in April 1994 and has engaged in procurement of parts in Southeast Asia.
Clarion decided to liquidate the wholly owned subsidiary because it will transfer the procurement role to Clarion (Hong Kong) Industries Co. on Oct. 1 in response to an increase in production in China.
Clarion said the liquidation will have little effect on its earnings.