NTN Will Boost CapEx Spending by 60% Through 2007
NTN Corp. (Japan) said it will increase its combined capital expenditures in 2004, 2005 and 2006 by as much as 60%.
The increase, the largest program yet revealed by any bearing manufacturer, will boost NTN's planned 3-year CapEx program by ¥ 51.6 billion (USD $474 million), to ¥ 138 billion ($1.3 billion).
With the wide-reaching program, NTN is targeting a wide range of improvements, from expanding its export market penetration to building capacity for core products such as CV joints for automotive and light truck applications.
NTN said it will target not only emerging markets as most manufacturers are doing now, but that it will also invest heavily in existing operations serving its traditional markets.
41% of NTN's CapEx through 2007 will be spent to increase manufacturing capacity for CV joints at facilities in the United States, France, and developing regions. NTN has been manufacturing CV joints and components since 1963, when it established a relationship with Hardy Spicer Ltd.
By the 2007 end of the program, NTN has set ambitious financial goals for itself.
While sales are targeted to hit ¥ 353 billion this year, 2007's goal is ¥ 450 billion. This year's targeted profit of ¥ 12 billion is projected to hit ¥ 22 billion in 2007.
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.
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
