Nifco Expands South Korea Fastener Operations

Jason Sandefur

Japan-based Nifco Inc. plans to open an $11.9 million industrial fastener plant in Ulsan, South Korea, in the fall of 2009, Japanese News Digest reported. The new facility, which will replace its current factory in Ulsan, is expected to generate $129 million in annual sales more than double its current sales level in Ulsan. Nifco also runs a second plant in South Korea at Chonan.
Supplying Hyundai Motor Co. and other carmakers, Nifco employs about 4,800 workers at 25 subsidiaries around the world. Sales in fiscal 2007 topped $1.13 billion. Web: nifco.co.jp �2007 FastenerNews.com