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CORRECTED: Sewing machine maker Juki forms 2 units in China

Asian Economic News, Jan 15, 2001

TOKYO, Jan. 9 Kyodo

Juki Corp., a maker of industrial sewing machines, said Tuesday it has set up two subsidiaries in Shanghai to deal with growing demand in China and Southeast Asia.

Juki (Shanghai) Industrial Co. will produce industrial sewing machines, with its workforce planned to increase to 300 in three years from two at present.

Shanghai Juki is capitalized at $10 million, put up 90% by Juki and 10% by Juki (China) Co., the other new subsidiary.

Juki (China) is a holding company to invest in Juki's manufacturing operations in China where the Tokyo-based company has three plants including Shanghai Juki.

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Juki's new wholly owned subsidiary, capitalized at $30 million, will also supervise the procurement of materials, sale of products, and product development by the production units. It will create a workforce of 50 in two years from the current five.

CORRECTED: Sewing machine maker Juki forms 2 units in China

Asian Economic News, Jan 15, 2001

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