Japan's NSK to Set Up Automotive Parts Joint Venture in China

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Nov 05,2007

Japan's NSK to Set Up Automotive Parts Joint Venture in China It is reported on Nov.5th, 2007 thatJapanese bearings manufacturer NSK Ltd will establish a joint venture in China next month to mass produce low-priced automotive parts for local car makers. The joint venture, to be set up in Zhejiang Province, will manufacture steering components, the business daily said. NSK will take a 60 percent stake in the venture with the remainder to be owned by a yet-to-be-named Chinese autoparts manufacturer. Separately, NSK has turned a Chinese automotive bearings venture with US firm Timken Co into a wholly owned unit as part of efforts to mass produce low-cost parts, the report said. NSK aims to triple its auto parts sales in China to nearly 60 billion yen by the end of March 2012, it said. (1 US dollar = 114.85 yen)

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