AISIN Aftermarket Aquires Business Assetsof Panama’s Leon Import, S.A.
SEYMOUR, Ind., October 4, 2024 – Tier One automotive supplier AISIN World Corp. of America (AWA) today announced that it has acquired the business assets of strategic partner, Leon Import, S.A. (Leon), an aftermarket import and sales company located in the Colon Free Trade Zone (CFTZ) in the Republic of Panama. The announcement was made by AWA President and CEO Scott Turpin.
In 2019, AWA and Leon entered a joint venture and established AISIN Sales Latin America (ASLA). Both companies consolidated their sales activities with a goal of building a new and efficient organization to provide expanded products and service to existing customers, and to increase business in regions including markets in Central America, South America, and the Caribbean. Since its establishment, ASLA successfully launched a new distribution center to shorten product delivery lead time and improve customer service and, in general, helped strengthen the automotive aftermarket in Latin America. These efforts and developments have led to significant business expansion and aftermarket sales for ASLA.
The Leon acquisition has been part of the business plan since the joint venture was established, according to Turpin.
“Six years ago, we celebrated the formation of ASLA, and assembled an exceptional team of professionals who helped establish – and later achieve – some aggressive business targets in the Latin America automotive aftermarket,” said Turpin.
“These people helped grow and strengthen the AISIN brand in a market where we’ve done business for more than 25 years, though, previously, we had never quite reached our sales potential. The ASLA team, comprised of experienced AISIN sales professionals, helped us accomplish significant new business goals, while the Leon team, led by owner, Javier Chiang, supported the effort by providing facilities and infrastructure in the CFTZ. We’re grateful to all for their contributions and combined support.”
Turpin added that Chiang will remain involved with the company as an advisor during the next phase of ASLA’s anticipated growth and expects most Leon employees to stay on and become ASLA (AISIN) team members.
He added that the ASLA management team had already notified current customers and distributors of the acquisition, and that their business relationships will not be impacted, nor will purchasing, logistics, order scheduling, inventory control, and commercial agreements. He said reaction to the news has been very positive, and a small reception was held last week for customers and distributors to celebrate the new organization.
“In six years, ASLA has become a strong and productive business, which often feels like a ‘family business,’” added Turpin. “We’re extremely pleased with what the JV has enabled us to accomplish, including significant new business opportunities in Latin America, but also truly appreciate the meaningful friendships we’ve made along the way.”
About AISIN Corporation:
AISIN Corporation is a top ten, global Tier One supplier of essential automotive components, systems and technologies for OEM and aftermarket customers. AISIN has contributed to the rapid development of mobility with a wide range of products that include nearly all product categories that comprise a vehicle, such as Powertrain, Body, Electronics, Chassis & Vehicle Safety Systems, and Connected & Sharing Solutions. A $32 billion company, AISIN Group has 200 consolidated companies and employs more than 120,000 people. In the Americas, AISIN Group companies include 14,000 team members, 40 manufacturing, sales, and R & D centers, including AISIN Technical Center of America, and the Fowlerville Proving Ground, the company’s 950-acre test track located an hour from Detroit, Michigan. AISIN has helped accelerate vehicle electrification and is a leading supplier of electrified components for EVs, BEVs, PHEVs and HEVs in a variety of product groups. AISIN has been an automotive parts manufacturer in North America since 1987 when it established AISIN USA Manufacturing in Seymour, Ind., USA, and has invested more than $3.5 billion in numerous communities in the US, Canada and Mexico.
