Minibea to expand investment in Thailand

BANGKOK, April 4 (TNA) - Japan-based NMB-Minebea (Thailand) Co. plans to increase investment in Thailand, as Prime Minister Yingluck Shinawatra promises to support its operations in order to boost the Thai Kingdom's partnership with the Japanese private sector. Yoshihisa Kainuma, Chief Executive Officer (CEO) of NMB-Minebea (Thailand) Co., announced the plan when he led his delegation to pay a courtesy call on Premier Yingluck at Bangkok's Government House on Thursday. Yingluck told the delegation that she hopes new infrastructure projects of her government will facilitate the company's businesses. On the occasion, Yingluck thanked the delegation for maintaining their investment in Thailand for over three decades with a registered capital of as much as 18 billion baht, which has created jobs and helped boost the Thai economy, expressing her appreciation to the company’s plan to expand its investment in Thailand. Kainuma affirmed that Thailand will continue to be his company's main production base and his company has planned several more investment projects in Thailand, including a 6.9-billion-baht bearing production program in Bang Pa-in District of Thailand's central Ayutthaya Province and a 1.1-billion-baht plan for spindle motor clean room expansion. Besides, the company will import machines, worth over 2.88 billion baht, to replace those damaged by a massive flooding in Thailand in late 2011 and the company has built floodwalls to protect its plants from, probably, future flooding and has constructed additional electricity substations to support its future production. The Minibea CEO, however, asked the Thai government to implement measures to weaken the Thai baht value, as the ongoing baht appreciation has affected businesses. In response, the Thai prime minister acknowledged that the baht value management has mainly rested with the Bank of Thailand or BOT, but her administration will implement what are considered best financial and investment measures to best support local businesses. (TNA)