Japan based materials manufacturer Nitto Denko Corp has said on October 19, 2012, that it will construct a new manufacturing plant in Sao Paulo, Brazil. The company also said that it will be investing 1.4 billion in the new plant.
The Brazilian market is important for Nitto Denko’s future, as the country has a large population and a rapidly developing economy. Brazil’s Sao Paulo is a metropolitan area and one of the most populous cities in South America. It has an estimated population of about 20 million people.
The industrial and financial centre of Brazil has experienced rapid growth and development in the past decade. In recent times, encouraging growth has also been noticed in the automotive parts business which led the company Nitto Denko to construct a plant for production and development in the football-crazy country.
The auto parts company has already expanded its manufacturing facilities in other countries such as India, Turkey and China and is determined to make its presence felt in different markets around the world. The new plant ‘Nitto Denko America Latina’ will be the first plant for the company in South America. At present, the Japanese company has manufacturing units in Mexico and United States from where auto parts were imported to Brazil in the past, but now Brazil will get all its parts manufactured locally.