Kobelco Launches Second Construction Machinery Plant in China; Inland and Coastal Plants Strengthen Excavator Business.Tokyo, Japan, Oct 12, 2005 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Kobelco Construction Machinery Co., Ltd., a group company of Kobe Steel Kobe Steel, Ltd. (株式会社神戸製鋼所 , Ltd., announced the formal start of production of hydraulic excavators at its joint venture, Hangzhou Kobelco Construction Machinery Co., Ltd., in Hangzhou, Zhejiang Province, China. The joint venture has a production capacity of 1,500 excavators per year. Hangzhou Kobelco is 51% owned by Kobe Steel, 27% by Toyota Tsusho Toyota Tsusho Corporation (豊田通商), TYO: 8015 , based in Nagoya Japan, is the Sogo shosha (trading company) for the Toyota Group. It is one of the largest trading companies in Japan. Corporation, and 22% by Chengdu Jialixing Investment Co., Ltd., a Chinese investment company. Hangzhou Kobelco is actively supplying excavators in the Chinese market, particularly to meet demand in Eastern China. Owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de its location on the coast, Hangzhou Kobelco also exports excavators to Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. . In addition, Hangzhou Kobelco will supply fabricated attachment parts and crawler Also known as a "Web crawler," "spider," "ant," "robot" (bot) and "intelligent agent," a crawler is a program that searches for information on the Web. Crawlers are widely used by Web search engines to index all the pages on a site by following the links from page to page. frames for export to Japan and the United States. In building an optimum global production system, some of the production of these excavator ex·ca·va·tor n. An instrument, such as a sharp spoon or curette, used in scraping out pathological tissue. excavator (eks´k parts will be shifted to Hangzhou to increase the cost competitiveness of Kobelco's plants. Hangzhou Kobelco was formed to meet the growing demand for hydraulic excavators in China. With Kobelco's first joint venture, Chengdu Kobelco Construction Machinery Co., Ltd. in Sichuan Province, Kobelco can flexibly meet demand from inland and coastal regions. In September 1994, Chengdu Kobelco became the first hydraulic excavator joint venture established by a Japanese company in China. Kobelco Construction Machinery (known at that time as the Construction Machinery Division of Kobe Steel) formed Chengdu Kobelco with the state-run Chengdu Construction Machinery (Group) Co., Ltd. The joint venture grew on the back of the booming Chinese construction machinery market. The Chinese market for hydraulic excavators has grown sharply in recent years, increasing fivefold fivefold Adjective 1. having five times as many or as much 2. composed of five parts Adverb by five times as many or as much Adj. 1. since 1999. Based on the number of new machines sold, China has grown into the fourth biggest market after Japan, Europe and the United States. In 2004, demand in each of the four markets was approximately 25,000 units, or over 100,000 units worldwide. However, macroeconomic mac·ro·ec·o·nom·ics n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. controls implemented in spring 2004 by the Chinese government sharply reduced demand for construction machinery. In spring 2005, construction resumed in areas under development that had been temporarily frozen. Signs of recovery are appearing, and the number of excavators sold monthly has been increasing in comparison to the same periods last year. For 2005, Kobelco anticipates demand will be similar to 2004. The potential demand for construction machinery in China is high owing to numerous large construction projects, including the Beijing Olympics in 2008 and the Shanghai Expo in 2010. In addition to the coast, development of the western region and other interior areas is accelerating. Copyright [c] 2005 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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