OSAKA, Japan (BRAIN) — An Asian news source is reporting that Shimano plans to invest $179 million to build a new plant in Singapore that will open next year.
According to the report Shimano also decided to invest another $118 million in its factories in Osaka and Yamaguchi, Japan, to expand production capacity.
Asia.Nikkei.com says Shimano's president, Taizo Shimano, told it that the company is building a facility in the Jurong Innovation District on the west side of Singapore, where an existing plant is also located. The new plant will produce high-end drivetrain parts, the site reports, and is being positioned as a "factory of the future." It was supposed to open last year but was delayed due to COVID.
Shimano first opened a Singapore facility in 1973; it was the company's first assembly plant outside of Japan. It opened a sales office there in 1996.
