KYOTO, Japan, May 23, 2006 (PRIMEZONE) -- Nidec Corporation (NYSE:NJ) announced today that Nidec Vietnam Corporation ("Nidec Vietnam"), its wholly-owned manufacturing subsidiary based in the Saigon High-tech Park (SHTP), Vietnam, is now set to begin the production of fan motors in full scale.
The Nidec Group's fan motor production is currently being undertaken by Nidec (Dalian) Limited, Nidec (Dongguan) Corporation, and Nidec Tosok (Vietnam) Co., Ltd., each running with a monthly manufacturing capacity of 8,000,000 units, 5,000,000 units, and 3,000,000 units, respectively.
As part of efforts toward capacity increase, Nidec Corporation and one of its consolidated subsidiaries Nidec Tosok Corporation (TSE:7728) have agreed to transfer the fan motor business of Nidec Tosok (Vietnam) Co., Ltd. to Nidec Vietnam. Nidec Vietnam, after the business transfer, aims to increase its manufacturing capacity to 8,000,000 units per month. Having completed the first-stage construction of its new factory, Nidec Vietnam will start producing fan motors on June 1, 2006. With a phased capacity increase in view, Nidec Vietnam also plans to handle the production of other types of brushless DC motors.
Outline of Nidec Vietnam Corporation
1. Company name:
Nidec Vietnam Corporation
2. Principal line of business
Manufacture of fan motors
3. Paid-in capital:
US$ 11 million (wholly-owned by Nidec Corporation)
4. Representatives:
Board Chairman Kenji Sawamura
Vice Chairman Kunihiko Nishihara
President Takeo Tamura
Director Hiroshi Kobe
5. Location:
Lot No. I1-N2, Saigon High-Tech Park, Dist 9, Hochiminh City,
Vietnam
6. Established:
October 17, 2005
7. Start of operation
June 1, 2006
8. Lot area:
Approx. 50,000 sq. m
9. Ground-floor area
21,749 sq. m (70,000 sq. m at the point of completion)
10. Sales plan (in Japanese yen)
FY2006: Yen 6 billion
FY2007: Yen 12 billion
FY2008: Yen 20 billion
11. Investment plan (in Japanese yen)
A total of Yen 11 billion over the next three years
12. Number of employees
2,000-10,000 employees (to be increased according to the pace
of scale expansion)
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