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.
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Press Release
May 21, 2010
NSK Ltd.
CSR Division Headquarters
Public Relations Department
NSK Establishes Production Subsidiary in China
Purpose of establishing the subsidiar
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.
Overview of the subsidiary
| 1) Company name | TBD |
|---|---|
| 2) Representative | 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 ㎡ and building area of approx. 20,000 ㎡ |
| 10) Start of operations | Planned for December 2010 |
| 11) Investment amount | Approx. 10 billion yen (7 billion yen at the beginning) |