NSK Holds Opening Ceremony at New Production Company in Mexico
The First Japanese Bearings Manufacturer in an Up-and-Coming Area with Burgeoning Automobile Demand
TOKYO--(Business Wire / Korea Newswire) December 11, 2014 -- NSK Ltd. (TOKYO:6471)(NSK) announced today that it held an opening ceremony to mark the successful start-up of its new production site in the state of Guanajuato, Mexico.
The plant began operations in April 2014 and commenced mass production in July. The ceremony was attended by around 100 people from in and outside the company, including dignitaries from the Mexican government, NSK President Norio Otsuka, and Bernard Lindsay, senior vice president and head of all American operations. “To ensure NSK’s growth in the expanding North American market, we will use the latest equipment and technology to increase quality, cost competitiveness, delivery time, and safety, under a policy of localization,” commented Mr. Otsuka at the ceremony.
The North American automobile market continues to grow under the North American Free Trade Agreement, and automakers are steadily expanding production in Mexico. NSK established this production company with the aim of expanding its operations in central Mexico, an area with a well-developed automotive industry. By supplying automotive bearings and other high-quality products to the North American market, the Mexico plant, together with NSK’s existing plants in the U.S., will further expand the company’s North American automotive business. Moreover, Mexico has signed trade agreements with many countries, including European countries and South Korea. In future, NSK will work to bolster its resilience against foreign exchange fluctuations by supplying global customers from its Mexican plant.
Concept of the new plant
Manufacture of quality products using cutting-edge production automation lines
Improved cost competitiveness (preferential duty treatment in the NAFTA region and advantageous labor costs)
Going forward, the company will pursue local procurement of materials and parts.
About NSK Bearings Manufacturing Mexico S.A. de C.V.
Representative: Steven A. Beckman, NSK Corporation President
Capital: Approximately USD 40 million
Size of plant: Site area approximately 100,000 m2, floor space approximately 13,000 m2 (initial stage)
Investment amount: Approximately USD 60 million
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NSK Co., Ltd.
Public Relations Dept.
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