Mori Seiki to build a new factory in Tianjin to manufacture NC lathes

According to reports, Mori Seiki, a famous Japanese machine tool manufacturer, will build a new factory in Tianjin to manufacture NC lathes and their peripherals. It is reported that the new factory is located in the western area of u200bu200bTianjin Economic and Technological Development Zone, covering an area of u200bu200babout 90,000 square meters. In addition to the first phase of the factory, it also includes the preparation site for the planned second factory. Mori Seiki will invest about 4 billion yen for the first phase of the plant and build a plant with a construction area of u200bu200babout 24,000 square meters. The production capacity of the first phase of the plant is scheduled to be 100 units per month. It is planned to start construction in August 2012, and be put into use in September 2013; the number of scheduled employees is 200. With the increasing market demand for lathes in China, Mori Seiki decided to set up a production base in a location closer to customers to shorten the delivery time and reduce the logistics and production costs of imported products from Japan. On the same day that the news of the construction of the new plant was announced, Mori Seiki also announced its results for the 2011 fiscal year. Consolidated sales increased by 29.0% from the previous fiscal year to 155.32 billion yen, and operating profit was approximately 21 times that of the previous fiscal year, at 6.788 billion yen. The company's performance has deteriorated since the global economic crisis triggered by the Lehman crisis in the second half of fiscal 2008, and an operating loss occurred throughout fiscal 2009. However, the 2010 fiscal year began to recover gradually, and the 2011 fiscal year achieved an increase in revenue compared with the previous fiscal year. According to reports, orders in areas such as automobiles and aircraft have increased. The full-year settlement for fiscal 2012 is also expected to increase revenue, with sales reaching 160 billion yen and operating profit at 8 billion yen.