NGK spark plug plans to invest 1 billion US dollars to build a new expansion plant
According to reports, the Japanese spark plug manufacturer NGK spark plug plans to build a new factory in Japan and upgrade existing factories.
The report said that NGK spark plugs will invest 80 billion yen (about 1 billion US dollars) in the next three years (before fiscal 2014) to build factories in Japan and upgrade existing factories.
As early as the beginning of this year, NGK spark plugs had announced that it will invest 28 billion yen (about 365 million US dollars) to build a new factory in Gifu Prefecture (Gifu Prefecture) to produce ceramic insulators for spark plugs.
The new plant will increase the annual production capacity of NGK spark plugs from 700 million to 900 million. NGK's new plant to increase production capacity is mainly to meet the growing demand for spark plugs in emerging markets.
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