NSK Predicts Strong Growth in Malaysia

NSK Bearings Malaysia Sdn. Bhd. (a local joint-venture subsidiary of NSK Ltd., Japan) said it expects sales in the country will continue to grow strongly, despite increased competition in the fast-growing market. Founded in 1993, NSK Malaysia has approximately 18% overall market share in Malaysia; its primary markets are industrial and the fast-growing automobile manufacturing sector. While 2003 sales were Rm 41.4 million (USD $10.9 million), the company says it expects 2004 sales will easily top Rm 45 million ($11.8 million), continuing from there at a 10% compound growth rate paralleling the total market. Yoshiharu Mitsuka, NSK Malaysia's Managing Director, said, "Our confidence has been fueled lately by the increasing demand for industrial bearings by the local automotive, palm oil mills, steel mills, precision machinery and tooling, port crane sheaves and electronic sectors."