Minebea Co., Ltd. (Japan) announced it will be following
its customers and setting up three new subsidiary
operations in China.
Minebea is the world's largest manufacturer of miniature
and precision instrument bearings. In bearings and
other products, it employs 45,000 people in 39
manufacturing facilities across 10 countries.
Minebea commands a 65% world market share of
ball bearings 22mm and under.
Minebea Trading Co., Ltd. (MTL), currently based in Singapore,
used to supervise sales in Singapore, Thailand, South Korea,
Taiwan, Malaysia, the Philippines, India and China.
Now it is being split in two, with a new office based in Hong
Kong to oversee new operations there, in Shenzhen and Shanghai.
The Shenzhen operation, in the Fujian Free Trade Zone, covers
sales in the south. Shanghai, in the Waigaoqiao Free Trade
Zone, covers sales in the east and north. The Hong Kong
office also supervises operations in South Korea and Taiwan.
Minebea said, "Now that our products major customers at
home as well as overseas are accelerating transfer of their
productions to China, forming a growing market for our products,
we need to expand our sales there while further strengthening
our efforts to develop new markets."
The new divisions, employing over 80 people to start and costing
over USD $41 million, are set to begin operation in November 2002.