NIDEC invests in Bintan

NIDEC invests in Bintan

SINGAPORE (Reuters): Osaka-listed NIDEC Corp is investing US$15 million in a production facility at the Bintan Industrial Estate (BIE) in Indonesia, BIE said on Monday.

It said NIDEC. a manufacturer of spindle motors for hard disk drives, was expanding its Singapore operations to Bintan, an Indonesian island near Singapore.

The Bintan plant would produce bracket and hub assemblies, BIE said in a statement.

It said NIDEC would lease four semi-detached factory units with a total built-in space of 4,400 sq m. Production would start in February 1997.

NIDEC plans to employ 1,000 workers and targets a sales turnover of $17 million by the first quarter of 1999, the statement said.