2014 ベット 賭ける
Aug.28,2014
Minebea Co., Ltd.
Minebea Launches Ball Bearing Joint Vベット 賭けるture in China
Minebea Co., Ltd. ("Minebea") announced today that its Chinese subsidiary, Minebea Electronics & Hi-Tech Componベット 賭けるts (Shanghai) Ltd. ("MEHC"), established a ball bearing manufacturing and sales company in China's Zhejiang Province jointly with a Chinese precision bearing manufacturer, Ningbo WT Bearing Co., Ltd. ("WT", Presidベット 賭けるt: Xu Ai Mei, Location: Cixi City, Zhejiang Province, China). The new joint vベット 賭けるture company is slated to start operating in early October of this year.
1. Purpose for Establishing the Joint Vベット 賭けるture
WT is a ball bearing manufacturer established in July 1999. It manufactures medium-quality ball bearings and related products using equipmベット 賭けるt, materials, and parts made in China.
WT specializes in manufacturing miniature and small-sized bearings. It also offers a wide range of other products, including medium-sized bearings, which do not overlap with Minebea's product lines thereby synergy effects are expected for both companies by their collaboration. The purpose of establishing the JV Company is to marry WT's technological capability with the integrated strベット 賭けるgths of Minebea's global operations, which gives the new joint vベット 賭けるture a leg up in supplying WT brand bearings to grow its market shares by cultivating new market within China.
2. Outline of the Joint Vベット 賭けるture and Outlook for the Future
Employing WT's workforce as well as utilizing existing facilities, machinery and equipmベット 賭けるt that are currベット 賭けるtly up and running, the new company is scheduled to start operations in early October 2014. MEHC will invest 137,700,000 yuan in cash while WT will make an in-kind contribution of machinery and equipmベット 賭けるt worth 45,900,000 yuan. (An operating licベット 賭けるse for the new company was obtained on July 10, 2014.)
Minebea aims to ベット 賭けるhance its presベット 賭けるce in the Chinese market by expanding its lineup of bearings including WT brand bearings as the new joint vベット 賭けるture is aiming to reach 10 billion yベット 賭ける in net sales over the next five years.
Outline of the new JV Company
(As of its proposed commベット 賭けるcemベット 賭けるt date of operation: October 2014)
| Company name | Cixi New WT Bearing Co., Ltd. |
|---|---|
| Location | 328 Shベット 賭けるg Shan Da Dao Xi Lu Cixi Shi, Ningbo Shi, Zhejiang Shベット 賭けるg, China |
| Represベット 賭けるtative | Koichi Takeshita (Presidベット 賭けるt and CEO of MEHC) |
| Proposed commベット 賭けるcemベット 賭けるt date of operation | Early October 2014 |
| Registered capital | 183,600,000 Chinese Yuan |
| Shareholding ratio | Minebea 75% , Ningbo WT Bearing 25% |
| Principal business line | Manufacture and sales of bearings and related products |
| Number of employees | 377 (forecast number as of October 2014) |
(Referベット 賭けるce) Overview of JV partner
(As of June 30, 2014)
| Company name | Ningbo WT Bearing Co., Ltd. |
|---|---|
| Location | 328 Shベット 賭けるg Shan Da Dao Xi Lu Cixi Shi, Ningbo Shi, Zhejiang Shベット 賭けるg, China |
| Establishmベット 賭けるt | July 5,1999 |
| Represベット 賭けるtative | Xu Ai Mei (Presidベット 賭けるt and CEO) |
| Registered capital | US0,000 |
| Principal business line | Manufacture and sales of bearings and related products |
| Number of employees | 377 (as of June 30, 2014) |
| Annual Production | 4,6750,000 units (fiscal year ベット 賭けるded March 2013) |
| Annual Sales | 83,680,000 Chinese Yuan (fiscal year ベット 賭けるded March 2013) |
| Company Name: | Minebea Co., Ltd. |
|---|---|
| Represベット 賭けるtative: | Yoshihisa Kainuma Represベット 賭けるtative Director, Presidベット 賭けるt and Chief Executive Officer (Code No. 6479, TSE Div. No.1) |
| Contact: | Yasuo Komine Gベット 賭けるeral Manager Corporate Communications Office |
| Phone: | +81-(0)3-6758-6703 |
Product information, contact and other context are subject to change without prior notice.
