2005
- January 31, 2005
- Nippon Sheet Glass Co., Ltd.
NSG will produce glass cords for timing belts in China
Nippon Sheet Glass Co., Ltd. ("NSG") will establish a new wholly-owned subsidiary in China to cope with expanding markets for rubber impregnated glass cords for the reinforcement of rubber drive belts in automotive, industrial and household applications.
The new company to be set up in the suburb of Suzhou is planned to start commercial production in July 2006. The total investment is estimated to be JPY1.4 billion (US$14 million).
In addition to the existing three plants producing glass cords located in Japan, the UK and Canada, the new plant in China will reinforce NSG's global supply network of the product as its forth plant in the world. With this expansion, NSG will further advance the development of this business.
Information on the New Company
| Name | Yet to be decided |
|---|---|
| Location | Suzhou, China |
| Land Area | 30,000 m2 |
| Share Capital | JPY500 million (US$5 million) |
| Shareholder | Nippon Sheet Glass Co., Ltd. (100%) |
| Annual Manufacturing Capacity | 900 ton |
| Planned Establishment | April 2005 |
| Planned Start of Commercial Production | July 2006 |
