August 8, 2011
Ground-breaking Ceremony at NTN Akaiwa Corporation
NTN Corporation (hereafter, NTN) held a ground-breaking ceremony on August 4 in Akaiwa-shi, Okayama Prefecture to commemorate the start of construction of the new company NTN Akaiwa Corporation (hereafter, NTN Akaiwa).
A number of distinguished guests were invited to the groundbreaking ceremony, including Governor Ishii of Okayama Prefecture and Mayor Inoue of Akaiwa-shi, where NTN called for the safe construction and smooth launch of the new company. Governor Ishii offered his greetings, adding that “NTN is a major force in leading the Japanese economy, and we look forward to seeing the company grow rapidly with Okayama Prefecture as its base for economic development”. Mayor Inoue welcomed the new company, saying “we would like to see cutting-edge products manufactured right here in Akaiwa-shi, Okayama Prefecture sent around the world”.
Greetings from Governor Ishii
From left, NTN Akaiwa President Harima, Mayor Inoue and Chairman Suzuki
NTN Chairman Suzuki offered his own greetings at the ceremony, stating that “embarking on “monozukuri” utilizing the latest manufacturing technology here at NTN Akaiwa will help speed up business expansion within Okayama, and I believe that the new company will contribute to the industrial and economic development of the region”.
<Overview of the NTN Akaiwa Corporation>
|(1)||Company Name||NTN AKAIWA CORPORATION|
|(3)||Capital||100% owned by NTN|
|(4)||Business Details||Manufacture and sales of general bearings for automobiles and industrial machinery|
|(5)||Location||100-43 Tsurui, Akaiwa-shi, Okayama Prefecture, Japan|
|(6)||Site Area||Approximately 66,000m2|
|(7)||Total Floor Area||Approximately 16,000m2 (single-story building (some two-story sections))|
|(8)||Total Investment||Approximately 10 billion yen (planned)|
|(9)||No. of Employees||Initially approximately 160 (planned)|
|(10)||Start of Construction||August 2011|
|(11)||Start of Operations||August 2012 (planned)|
<Aim of Establishment>
NTN has set goals for further expansion as part of efforts to reach 1 trillion yen in sales by FY2017, the company's 100th anniversary. To achieve this the “Global Advance 2013” three-year medium term management plan was launched in April this year.
Recovery and increases in demand in automobiles and industrial machinery around the world mean the demand for various types of bearings is also on the rise. NTN is focusing efforts on business in these growing markets and speeding up measures to increase production capacity around the globe.
Construction of plants that form NTN Akaiwa had been delayed since the global financial crisis triggered by the collapse of Lehman Brothers in September 2008, however embarking on “monozukuri” utilizing the latest manufacturing technology the newly constructed NTN Akaiwa will help increase production capacity to meet growing global demand, while also ensuring better risk diversification.
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|CSR & Corporate Communications Department|