Nippon Tungsten Opens New Productive Subsidiary in China

Nippon Tungsten announced on Friday the firm establishes a productive subsidiary for tungsten bar and wire products in China. Tungsten products are used for lighting equipment and office machines. The demand is rapidly increasing in China and other emerging countries. Nippon Tungsten aims to enhance the business in growing market.

Nippon Tungsten now operates a productive joint venture, Siping Nippon Tungsten Industrial in Jilin Province, China with 40% shares. Meanwhile, the firm decided to establish a new subsidiary with 51% investment for speedy management. Siping Nippon Tungsten Industrial will be dissolved and the new subsidiary will succeed the operations.

The capital fund is approximately 140 million yen. The operation will start in January 2011.