In a latest development in the field of plastic manufacturing sector the Japanese Car Parts Molder Nifco Inc. is all set to pump a hefty sum of 10.8 million euros ($14.7 million) to multiply its operational output. According to news from various surfacing company’s this investment will not merely enable them multiply their output but will also create 150 new job opportunities for Polish citizens.
It is important to underline here that the region is experiencing a sharp growth in the consumption of auto parts and hence there was an urgent need to multiply the production to meet the ever-growing demand. According to reports from the sources company’s this investment will allow the manufacturer to launch production of various plastic components which will be supplied to the auto industry.
It is important to note that the company had recently cracked many deals in past and this is its second major investment after the investment of 14.5 million euro ($19.7 million) project last year.
Following the launch of a 14.5 million euro ($19.7 million) project to expand the plant earlier this year, the firm recently secured another permission from the zone to increase its factory’s output and workforce, the WSEZ said in a statement.
According to the reports the company will complete its investment by December 31, 2020 and will be implemented by the company’s local subsidiary. With this investment company will be able to multiply production of various products in its portfolio including dampers, fasteners, interior trim items, buckles and console components. Meanwhile, the move has been endorsed and appreciated by major players in auto industry as, this will almost double their production capability.
The company has also said that it’s open for any such collaboration that will ensure client satisfaction and user satisfaction. The manufacturer’s production facilities supply their output to Toyota’s offshoots in the United Kingdom, France, Poland and the Czech Republic, and also to Suzuki’s factory in Hungary.