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Social and
Environmental Report |
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News Release |
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News Release
August 22,2002
NSK Ltd.
Public Relations Department
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Establishment of a Steering Product Production Company in China |
NSK Ltd. President Seiichi Asaka has announced the establishment of a steering product production company in China as part of its corporate strategy to further develop NSK's global steering product business.
| Outline of the New Company |
| Company Name |
NSK Steering Systems China Co., Ltd.(tentative) |
| Location |
Chengqu Urban Technology Park, Tongguan City
Guangdong Province, China |
| Area |
Land - 40,000 sq m, Building - 4000 sqm |
| Capital |
¥800,000,000 (Total investment approximately ¥2,000,000,000) |
| Ownership |
NSK - 100% ownership |
| Purpose |
Production and sales of steering column and steering joint |
| Start of Production |
April 2004 (scheduled) |
| Number of Employees |
approximately 180 (in 2005) |
| Production Volume |
Expected annual production - 500,000 columns (in 2005) |
NSK's initial forays into China began with the Kunshan bearing production plant and the business in China has since grown. The establishment of this steering product production center in Chengqu Urban Technology Park, Tongquan City, China represents the next step in NSK's strategy to strengthen its global presence.
The steering product business focuses mainly on the steering column and joint businesses. NSK currently has steering production facilities in the United States, England, Thailand and India. NSK currently holds the #2 market share for steering columns and leads in market share for the steering joint product. This new production site in China will further strengthen NSK's steering production capabilities and thus, reinforce its worldwide presence.
The new company will initially meet steering column and joint demands of Japanese automakers that are now producing in China. However, in incremental steps, NSK anticipates producing to meet demands of non-Japanese automakers and eventually to export out of China.
NSK was the first to commercialize the Electric Power Steering System (EPS) and continues to lead the world in steering technology. The establishment of this new production company will simultaneously raise NSK's worldwide presence and enhance NSK's technological and production capabilities.
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