Toho Kinzoku to Close Tungsten Product Plant in Hokkaido

Toho Kinzoku, Osaka based tungsten and molybdenum product maker, announced on Wednesday the firm closes its tungsten product plant in Fukagawa, Hokkaido, Japan at the end of June 2009. The firm aims to improve productivity by operating integration into Moji plant in Kitakyusyu, Fukuoka, and Neyagawa plant in Neyagawa, Osaka. In addition, the firm encourages voluntary retirement by 100 employees, 35% of the entire employees, to downsize managing cost.

Fukagawa plant is recently suffered from sharp order decrease for tungsten electronic materials when Japanese and overseas liquid crystal panel television makers entered severe inventory adjustment. There are 97 employees at Fukagawa plant. The firm will sell a land, buildings and productive facilities of the plant after closing.