JTEKT Corporation Announces Plans to Build New Manufacturing Facility to Meet Growing Demand for Electric Power Steering Systems

Jan 06, 2014, 13:42 ET from JTEKT Corporation

PLYMOUTH, Mich., Jan. 6, 2014 /PRNewswire/ -- JTEKT Corporation, a leading producer of automotive steering systems, all wheel drive couplings and a broad range of bearings, has announced it will invest US $91 million to build a new manufacturing facility in San Luis Potosi, Mexico. The new facility, JTEKT's first in Mexico, will provide the company with needed capacity to manufacture electric power steering systems for its growing customer base in the region.

"The San Luis Potosi site will be an important piece of our global manufacturing footprint. It is strategically located to enable JTEKT to quickly serve several automakers in the region," said Ken Hopkins, chief operating officer, JTEKT North America. "This investment will significantly expand our production capacity for electric steering systems and position us well for future growth as a global leader of electric power steering systems."

Construction of the 19,000 square meter (204,500 sq. ft) plant, which will employ 300, is expected to begin in spring of 2014, and be completed in the spring of 2015 with operations starting by the end of 2015. At full capacity, production volume will reach 900,000 units annually.

JTEKT is a leading global supplier of automotive steering systems, automotive all wheel drive couplings, Torsen brand differentials, Koyo brand automotive and industrial bearings and TOYODA machine tools that improve efficiency and performance in a variety of applications. With global headquarters in Nagoya, Japan, JTEKT employs more than 43,000 people in 27 countries and reported sales of $11 billion in 2012. In North America, JTEKT employs over 5,000 people with 14 manufacturing facilities and numerous technical centers and distribution facilities across North America. For more information, please visit www.jtekt.co.jp/e/.

SOURCE JTEKT Corporation