NSK Announces Plans to Establish a Manufacturing Subsidiary in Mexico

Resource from: 4-traders Likes:230

Jan 10,2013

Tokyo, Japan, January 10, 2013 - NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) announced today that the company would establish a manufacturing subsidiary in Mexico, as outlined below. 1. Objective of establishing the manufacturing subsidiary NSK has decided to establish a manufacturing subsidiary in Mexico in order to better deal with the expansion of automobile production in Mexico and in order to keep up with expected growth in the automobile segment among the North American Free Trade Agreement (NAFTA) countries of the United States, Canada and Mexico. Through the establishment of this subsidiary, NSK will be better positioned to provide quality products such as bearings for automobiles in a timely manner. It will also give NSK increased capacity in addition to its existing plants in the U.S. in supporting NSK's plans to expand its North American automobile businesses. By increasing the production capacity of bearings for automobiles in the Americas, including Mexico, NSK aims to build a stronger corporate ability to deal with exchange rate fluctuations as well as to further expand its business in North America. 2. Overview of the manufacturing subsidiary 1) Company name NSK Bearings Manufacturing Mexico S.A. de C.V. 2) Location Mexico, state of Guanajuato 3) Representative Steven Beckman , NSK Corporation Senior Vice President 4) Date of establishment Planned for January 2013 5) Business areas Manufacture and sale of automobile bearings 6) Capital Approximately USD 5 million (as of April 2013) 7) Investment breakdown 100% NSK Ltd. 8) Size of plant Site area of approximately 100,000

(4-traders)

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