10/7/2010 12:00:00 PM
NEWS BRIEFS
Nifco Building Fastener Plant In China’s Interior
Nifco facility in Beijing
Automotive fastener maker Nifco will invest about 1 billion yen (US$12.15 million) to build a fastener plant in China’s Hubei Province, Nikkei Business Daily reports.
The factory, which will make plastic fasteners, cup holders and other parts, will be Nifco’s sixth facility in China but the first in the interior. The facility is expected to be operational by the middle of next year.
Nifco already has a Chinese plant in Guangdong Province to supply Japanese carmakers in Wuhan.
But Honda and Nissan are reportedly expanding production in Hubei and Henan, prompting Nifco to build new capacity to meet growing demand for its products, which generate revenues of 8 billion yen (US$97 million) from its customers in China.
Nifco may also expand capacity at its Shanghai facility to meet its 10% annual growth target. Web: nifco.com ©2010 GlobalFastenerNews.com
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