Minebea Launches Ball Bearing Joint Venture in China
Resource from: Minebea Co., Ltd. Likes:254
Sep 03,2014
Minebea Co., Ltd. ("Minebea") announced today that its Chinese subsidiary, Minebea Electronics & Hi-Tech Components (Shanghai) Ltd. ("MEHC"), established a ball bearing manufacturing and sales company in China's Zhejiang Province jointly with a Chinese precision bearing manufacturer, Ningbo WT Bearing Co., Ltd. ("WT", President: Xu Ai Mei, Location: Cixi City, Zhejiang Province, China). The new joint venture company is slated to start operating in early October of this year.
1. Purpose for Establishing the Joint Venture
WT is a ball bearing manufacturer established in July 1999. It manufactures medium-quality ball bearings and related products using equipment, materials, and parts made in China.
WT specializes in manufacturing miniature and small-sized bearings. It also offers a wide range of other products, including medium-sized bearings, which do not overlap with Minebea's product lines thereby synergy effects are expected for both companies by their collaboration. The purpose of establishing the JV Company is to marry WT's technological capability with the integrated strengths of Minebea's global operations, which gives the new joint venture a leg up in supplying WT brand bearings to grow its market shares by cultivating new market within China.
2. Outline of the Joint Venture and Outlook for the Future
Employing WT's workforce as well as utilizing existing facilities, machinery and equipment that are currently up and running, the new company is scheduled to start operations in early October 2014. MEHC will invest 137,700,000 yuan in cash while WT will make an in-kind contribution of machinery and equipment worth 45,900,000 yuan. (An operating license for the new company was obtained on July 10, 2014.)
Minebea aims to enhance its presence in the Chinese market by expanding its lineup of bearings including WT brand bearings as the new joint venture is aiming to reach 10 billion yen in net sales over the next five years.
Outline of the new JV Company
(As of its proposed commencement date of operation: October 2014)
Company Name: Minebea Co., Ltd.
Representative: Yoshihisa Kainuma
Representative Director,
President and Chief Executive Officer
(Code No. 6479, TSE Div. No.1)
Contact: Yasuo Komine
General Manager
Corporate Communications Office
Phone: +81-(0)3-6758-6703Minebea Launches Ball Bearing Joint Venture in China
Minebea Co., Ltd. ("Minebea") announced today that its Chinese subsidiary, Minebea Electronics & Hi-Tech Components (Shanghai) Ltd. ("MEHC"), established a ball bearing manufacturing and sales company in China's Zhejiang Province jointly with a Chinese precision bearing manufacturer, Ningbo WT Bearing Co., Ltd. ("WT", President: Xu Ai Mei, Location: Cixi City, Zhejiang Province, China). The new joint venture company is slated to start operating in early October of this year.
1. Purpose for Establishing the Joint Venture
WT is a ball bearing manufacturer established in July 1999. It manufactures medium-quality ball bearings and related products using equipment, materials, and parts made in China.
WT specializes in manufacturing miniature and small-sized bearings. It also offers a wide range of other products, including medium-sized bearings, which do not overlap with Minebea's product lines thereby synergy effects are expected for both companies by their collaboration. The purpose of establishing the JV Company is to marry WT's technological capability with the integrated strengths of Minebea's global operations, which gives the new joint venture a leg up in supplying WT brand bearings to grow its market shares by cultivating new market within China.
2. Outline of the Joint Venture and Outlook for the Future
Employing WT's workforce as well as utilizing existing facilities, machinery and equipment that are currently up and running, the new company is scheduled to start operations in early October 2014. MEHC will invest 137,700,000 yuan in cash while WT will make an in-kind contribution of machinery and equipment worth 45,900,000 yuan. (An operating license for the new company was obtained on July 10, 2014.)
Minebea aims to enhance its presence in the Chinese market by expanding its lineup of bearings including WT brand bearings as the new joint venture is aiming to reach 10 billion yen in net sales over the next five years.
Outline of the new JV Company
(As of its proposed commencement date of operation: October 2014)
Company Name: Minebea Co., Ltd.
Representative: Yoshihisa Kainuma
Representative Director,
President and Chief Executive Officer
(Code No. 6479, TSE Div. No.1)
Contact: Yasuo Komine
General Manager
Corporate Communications Office
Phone: +81-(0)3-6758-6703
Company Name: Minebea Co., Ltd.
Representative: Yoshihisa Kainuma
Representative Director,
President and Chief Executive Officer
(Code No. 6479, TSE Div. No.1)
Contact: Yasuo Komine
General Manager
Corporate Communications Office
Phone: +81-(0)3-6758-6703Minebea Launches Ball Bearing Joint Venture in China
Minebea Co., Ltd. ("Minebea") announced today that its Chinese subsidiary, Minebea Electronics & Hi-Tech Components (Shanghai) Ltd. ("MEHC"), established a ball bearing manufacturing and sales company in China's Zhejiang Province jointly with a Chinese precision bearing manufacturer, Ningbo WT Bearing Co., Ltd. ("WT", President: Xu Ai Mei, Location: Cixi City, Zhejiang Province, China). The new joint venture company is slated to start operating in early October of this year.
1. Purpose for Establishing the Joint Venture
WT is a ball bearing manufacturer established in July 1999. It manufactures medium-quality ball bearings and related products using equipment, materials, and parts made in China.
WT specializes in manufacturing miniature and small-sized bearings. It also offers a wide range of other products, including medium-sized bearings, which do not overlap with Minebea's product lines thereby synergy effects are expected for both companies by their collaboration. The purpose of establishing the JV Company is to marry WT's technological capability with the integrated strengths of Minebea's global operations, which gives the new joint venture a leg up in supplying WT brand bearings to grow its market shares by cultivating new market within China.
2. Outline of the Joint Venture and Outlook for the Future
Employing WT's workforce as well as utilizing existing facilities, machinery and equipment that are currently up and running, the new company is scheduled to start operations in early October 2014. MEHC will invest 137,700,000 yuan in cash while WT will make an in-kind contribution of machinery and equipment worth 45,900,000 yuan. (An operating license for the new company was obtained on July 10, 2014.)
Minebea aims to enhance its presence in the Chinese market by expanding its lineup of bearings including WT brand bearings as the new joint venture is aiming to reach 10 billion yen in net sales over the next five years.
Outline of the new JV Company
(As of its proposed commencement date of operation: October 2014)
Company Name: Minebea Co., Ltd.
Representative: Yoshihisa Kainuma
Representative Director,
President and Chief Executive Officer
(Code No. 6479, TSE Div. No.1)
Contact: Yasuo Komine
General Manager
Corporate Communications Office
Phone: +81-(0)3-6758-6703
(Minebea Co., Ltd.)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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