Sep 12 2008
Japanese injection moulder Mitsubishi Plastics has announced plans to construct a plant in Slovakia to turn out components for the consumer electronics sector.
The plastics moulder – part of Japan's Mitsubishi Chemical Holdings Corp – intends to invest more than $27m on the facility which is being located in Nitra, western Slovakia.
The unit is set to start operating from September 2009, the Tokyo-based company stated.
Later this month Mitsubishi Plastics expects to establish a wholly-owned subsidiary in Nitra to run what will be its first moulding facility in Eastern Europe.
The production facility, due to employ up to 200 within two years, will be the company's ninth outside Japan.
Initially, Mitsubishi expects its new operation to injection mould external components for LCD televisions being produced locally by Japanese electronics groups.
Much of the unit's production will serve Sony Slovakia Spol, which is expanding output of 'Bravia' LCD TV screens at its factory in Nitra. Its annual production level there is due to reach 4 million units per year by the end of this year.
Mitsubishi is responding to growing demand for plastic parts in Eastern European countries and local expansion by Japanese electronics manufacturers of LCD TVs and other consumer goods. The moulder anticipates annual sales for the new business of up to $46m by 2010.
In addition, the moulder is studying opportunities to serve the rapidly growing market for automotive components from vehicle manufacturers raising output in the region.