TSUBAKI Plans to Acquire CSBP
In recent years, more and more Japanese auto and motorbike manufacturers set their plants in China and some of them even make further plant expansions. As a result, the demand of auto and motorbike parts increased at an amazing speed. In order to keep pace with this trend, Tsubaki make their decision to acquire Chongqing Steel Ball Plant to expand their output.
The acquisition contract will be signed in the middle of Dec. So far there is no detail about the acquisition cost.
Chongqing Steel Ball Plant(CSBP) was a state-run enterprise when it was founded in 1968. However, the plant experienced a privatization in 1998. Covering 12,000 square meters area, the plant employ over 300 people, produce bearing steel balls 1billion pieces per month. Their 2005 sales is expected to hit 67million yuan, up 50% from 2004.
Tsubaki set their steel ball plant nearby Shanghai in 2002. Due to the large demand of steel ball, that plant has been operated under full capacity since its setup. Predictively, the sales of this plant in 2005 will reach JPY 800 million.
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