Tokyo, Japan, May 21, 2010 – NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) announced today that its Board of Directors resolved at a meeting held on May 21, 2010, to establish a production subsidiary in China. Details are as follows.
NSK plans to establish the production subsidiary in China in anticipation of growing demand in that country for large-sized bearings used in the environmental and infrastructure-related industries. Through this subsidiary, NSK aims to expand its industrial machinery bearings business by supplying the Chinese market with high-quality large-sized bearings in a timely manner.
|1) Company name||TBD|
|3) Location||Shenyang Economic and Technological Development Area, Shenyang City, Liaoning Province, China|
|4) Date of establishment||Planned for July 2010|
|5) Major operations||Manufacture and sale of large-sized bearings|
|6) Number of employees||About 300 (about 100 at the beginning)|
|7) Capital||200 million yuan (approx. 3 billion yen)|
|8) Equity investment ratio||100% from NSK|
|9) Scale of plant||Planned site area of approx. 80,000 m2 and building area of approx. 20,000 m2|
|10) Start of operations||Planned for December 2010|
|11) Investment amount||Approx. 10 billion yen (7 billion yen at the beginning)|