Mitsuboshi Belting Ltd. (TYO:5192) is looking to build a new plant in India for the manufacture of automotive transmission belts and other products. Investment here will come to approximately 3.6 billion yen ($32.64 million), with the new plant slated to begin operations in February 2023. Mitsuboshi Belting’s 2021 medium-term business plan has the conveyor belt and automotive transmission belt manufacturer...
Mitsuboshi Belting Ltd. (TYO:5192) recently posted its business results for fiscal 2019, showing a sales revenue decline of 1.3 percent year-on-year to end at 71.05 billion yen ($649.07 million). The company’s operating profit for the year was down 10.2 percent to just under 7.3 billion yen, while ordinary profit was down 14.4 percent to a little under 7.66 billion yen...
Swiss-based plastic belt manufacturer Habasit AG announced on Dec. 5 that it has acquired all stocks in Namil Belt Industrial Co. Ltd. (NBI) and Korea Belt Services (KBI), turning these two South Korean belt companies into wholly owned subsidiaries. By then integrating these two companies, Habasit aims to bolster its supply of high-quality, customized solutions to customers throughout South Korea....
Mitsuboshi Belting Ltd. (TYO:5192) is setting aside approximately 5.7 billion yen ($52.64 million) for capital investments in fiscal 2019, marking a 74 percent increase over fiscal 2018 to make for the company’s largest ever year of such investments. This will go toward updating and expanding the company’s production facilities, both in Japan and abroad; enriching test research facilities; and reconstructing...
Nitta Corp. (TYO:5186) is expecting its belting division to report year-on-year sales growth of around 5–9 percent for the first half of fiscal 2018. The company’s NLG series of resin conveyor belts have recently been met with strong performance in the distribution sector as well as positive trends in the food sector, causing year-on-year sales growth percentage here to be...
