(December 2, 2010)
NTN Corporation (hereafter, NTN) has decided to establish NTN NOTO Corporation in Hakui-gun, Ishikawa Prefecture to manufacture and sell bearings for industrial machinery.
1. Purpose of establishing the new company
As part of NTN's new growth strategy, the company is accelerating its business strengthening aimed at emerging markets, where demand is rapidly expanding, and industrial machinery. At this time NTN has decided to establish a new company in the Noto district of Ishikawa Prefecture to expand and strengthen production capacity for bearings for industrial machinery.
The new company will manufacture various types of bearings used in construction machinery and in industrial machinery for wind power generation, steel, and mining. The new company will serve as a base for shipping to the Asian market with a focus on China and to other parts of the world in order to expand sales.
In the same district, NTN has already established NTN HAKUI Corp., NTN HOUDATSUSHIMIZU Corp., and NTN SHIKA Corp. to boost the company's production system for extra large bearings used in industrial machinery.
By establishing NTN NOTO Corp., NTN is positioning the district as one large production center for bearings for industrial machinery, and is speeding up business expansion.
2. Future plans
After the new company is established in December 2010, the operation will start in April 2012. The operation will begin with approximately 90 employees, but this number will be increased as business expands in industrial machinery bearings.
3. Outline of the new company
(1) Company name NTN NOTO CORPORATION
(2) Line of business Manufacture and sales of bearings and machine parts for industrial machinery
(3) Location Wakabadai, Shika-machi, Hakui-gun, Ishikawa prefecture (Noto Industrial Park), Japan
(4) Representative Shigeaki Deguchi, President
(5) Registered capital 2.5 billion yen (NTN: 100%)
(6) Total investment Approx. 8.0 billion yen (provisional)
(7) Establishment December 2010 (scheduled)
(8) Start of operation April 2012 (scheduled)
(9) Site area Approx. 106,500 m2
(10) Total floor area Approx. 15,000 m2
(11) Anticipated sales Approx. 12 billion yen (in fiscal 2015)
(12) Employees Approx. 90, initially
NTN NOTO Corporation (image)
Other News:
NTN Establishes New Company to Manufacture Bearings for Industrial Machinery (NTN NOTO Corporation)
Brevini Repair Service Rejuvenates Wind Turbine Drive
RBC Bearings Inc. (ROLL) President and CEO Michael J Hartnett sells 36,626 Shares
PBC Linear Announces Simplicity vs. Drylin Whitepaper
SmarTrend Detects Potential Break Out In Shares of RBC Bearings (ROLL)
Dana Holding Corporation to Participate in the 2010 Goldman Sachs Second Annual Global Automotive Conference
JTEKT will be Showcasing its World-leading Automotive Steering Systems, Bearings, Machine Tools and Driveline Component
King Engine Bearings to present tech seminar at 2010 PRI Show
