Mitsubishi Plastics to construct a plant in Slovakia for consumer electronic components

16-Sep-08

In a move that will responding to growing demand for plastic parts in Eastern European countries and local expansion, Japanese injection moulder Mitsubishi Plastics, part of Japan's Mitsubishi Chemical Holdings Corp., plans to construct a plant in Slovakia to turn out components for the consumer electronics sector at an investment of over US$$27 mln. Production is slated to roll out from September 2009. Later this month Mitsubishi Plastics expects to establish its ninth facility outside Japan - a wholly-owned subsidiary in Nitra to run what will be its first moulding facility in Eastern Europe. Most 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 pa by the end of the year. Besides sales in Eastern Europe, the company will also produce for domestic demad by Japanese electronics manufacturers of LCD TVs and other consumer goods. Mitsubishi anticipates annual sales for the new business of up to $46m by 2010.