Nifco Plans China Expansion
June 03
00:00
2008
Nifco Plans China Expansion
Jason Sandefur
Tokyo-based Nifco Inc. reportedly plans to open a new 2 billion yen (US$19 million) factory in Beijing, boosting its production capacity in China by 215,000 sq ft.
The facility will produce plastic fasteners for the automotive market.
More than 30 units of injection-molding machines will be installed at the new facility, a sizeable increase from the dozen at the existing operation.
Nifco predicts sales in China will double to 12 billion yen (US$114.3m) by 2012, boosted by the country’s rapid car market growth. Web: nifco.com �2008 FastenerNews.com
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