Minebea Co. Ltd. (Japan) said it will be spending more than 3.5 billion baht (USD $82.5 million) in Thailand during 2003 to further expand production in its existing product lines.
Minebea is a diversified manufacturing conglomerate, primarily involved in rotating devices, bearings, motors, machined components and electronic components.
In the bearing industry, Minebea, via it's NMB brand, is the world's largest manufacturer of miniature and precision instrument bearings. In bearings and other products, it employs 45,000 people in 39 manufacturing facilities across 10 countries. Minebea commands a 65% world market share of ball bearings 22mm and under.
The 3.5 billion baht planned for 2003 comes on the heels of 2 billion baht ($47.2 million) the company invested in Thailand facilities during 2002, primarily to expand production capacity for ball bearings and launch a new line of sensor motors.
Thailand is home to the highest concentration of Minebea production, with six factories at four industrial parks. Essentially all of its Thai-produced products are exported.