bearings producer NSK Corp. says it plans to build a
$70-million manufacturing plant in Mexico.
Ann Arbor, Mich.-based NSK, a
subsidiary of Tokyo-based NSK Ltd., said the Mexican subsidiary
will allow it to better service expanding automobile production
in Mexico and keep up with the expected growth in the
automotive segment throughout the North American Free Trade
Agreement (Nafta) region.
By expanding into Mexico, the
company will also free up capacity at its existing plants in
the United States and support NSKs ability to manage
exchange rate fluctuations, it said.
The new company will be called NSK Bearings Manufacturing
Mexico SA de CV and will be located in Guanajuato, NSK said,
noting that it expects to begin bearings production at the new
facility in the spring of 2014.