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EPSON to Build Magnetic Parts Base in Shanghai
Japan-based EPSON Company has recently increased its investment to one billion yen, into the Shanghai EPSON Magnetic Parts Co. Ltd in order to build new factories in Shanghai.
EPSON is currently transferring to Shanghai its domestic factories to build a magnetic parts base in Shanghai to meet the increasing need of the production of electric information products ranging from computers, cameras, printers and mobile phones.
According to a senior Japanese manager with EPSON, this decision is attributed to the rich resources of rare-earth, the main raw material needed for making magnetic parts, and the rapid development of the information industry in China.
Shanghai EPSON Magnetic Parts Co. Ltd, a joint venture by Japanese EPSON and Shanghai Precision Scientific Instrument Co. Ltd, mainly produces the fourth-generation of magnetic materials. Since its establishment in 1996, this company's sales and export have doubled. The sales is expected to approach 200 million yuan this year, and its export to exceed US$20 million.
After this base is established, the Shanghai EPSON may reduce its production cost by 15 percent and yield more than 400 tons of new magnetic materials, making the company the second largest firm in the sector worldwide.
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