Asia
Nissei Says Japan Plant Plan Frozen to Focus on India Plant Capacity, Amid Rising Construction Costs
Nissei ASB Machine (TYO:6284) said it has stalled its plans to build a new plant in Saku City, Nagano Prefecture, Japan, however, denying media reports that the decision was driven by slowing demand for plastic container molding machines.The Japanese industrial machinery manufacturer said that the global market demand remains robust, and it plans to respond to strong global demand by expanding production capacity at its plant in India.The company said increases in construction material prices and prolonged construction periods caused by labor shortages made it extremely difficult to begin operations within the originally planned schedule and budget.
TYO:6284
