KYOTO, Japan, Nov. 20, 2007 (PRIME NEWSWIRE) -- Nidec Corporation ("Nidec") (NYSE:NJ) today announced that one of its consolidated subsidiaries Japan Servo Co., Ltd. ("Japan Servo," Tokyo Stock Exchange Second Section:6585) has resolved at a board meeting held today to establish a manufacturing subsidiary in Vietnam.
The new company will undertake manufacture of hybrid stepping motors* in the Saigon High-Tech Park, Vietnam, which is the Nidec Group's second largest manufacturing complex after the Nidec Industrial Park in Pinghu, China.
Japan Servo sees strong market for hybrid stepping motors* and expects Vietnam to provide it with a fertile recruiting ground and geographical advantages essential for productivity improvement.
* The hybrid stepping motor uses a multi-toothed rotor (as in the variable reluctance motor) and has an axially magnetized concentric magnet around its shaft (as in the permanent magnet motor), providing better performance in step resolution, torque and speed.
The details of the new company are as follows:
1. Outline of New Company
a) Company Name: NIDEC SERVO VIETNAM CORPORATION
b) Date of Establishment
(planned): December 2007
c) Start of Production: October 2008
d) Location: Saigon Hi-Tech Park (Ho Chi Minh City,
Vietnam)
e) Representative: Takuya Tajima, Chairman
Keiji Osawa, President
f) Investment Plan: FY2008 US$15million
FY2009 US$15million
FY2010 US$20million
g) Ownership: Japan Servo Co., Ltd. (100%)
h) Line of Business: Manufacture and sale of small
precision motors, etc.
i) Site area (approx. sq): 2008 (1st phase) 45,000
2010 (2nd phase) 20,000
j) Plant (approx. sq): End of July 2008 (1st phase) 20,000
Floor space:
End of 2009 (2nd phase) 20,000
End of 2010 (3rd phase) 20,000
k) Production Plan: FY2008: 12million/year
FY2009: 24million/year
FY2010: 48million/year
l) Number of Employees: FY2008: 500
FY2009: 2,000
FY2010: 5,000
m) Fiscal Year-end: March 31
The Nidec Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1734