TOKYO -(Dow Jones)- Minebea Co. (6479.TO) said Monday it will spend about Y5 billion ($60 million) to construct a new motor plant in Cambodia
The Japanese precision component company said the plant will be its first major new production facility since it built a plant in Shanghai in 1994.
Aimed at strengthening its production network in Southeast Asia, the new facility will receive parts from a Minebea plant in Thailand, and will manufacture small and mid-sized motors for home electronics and other uses.
Minebea said it will first lease production facilities in the Phnom Penh Special Economic Zone and will kick off production there from April 2011. The company will then construct a new plant in the zone, which is slated to begin production by the end of 2012 with a maximum of 5,000 workers.
-By Hiroyuki Kachi, Dow Jones Newswires; 813-6269-2789; Hiroyuki.Kachi@dowjones.com
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