*NEWS*CANON TO SPEND $ 575million ON US TONER PLANT

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*NEWS*CANON TO SPEND $ 575million ON US TONER PLANT

 user 2008-05-05 at 4:58:09 pm Views: 89
  • #19411

    Japan’s Canon to build U.S. toner cartridge plant – report
    http://www.forbes.com/markets/feeds/afx/2008/05/01/afx4961340.html
    TOKYO – Japanese office equipment maker Canon Inc. will invest 60 billion yen ($574.9 million) in building a factory in the U.S. that will feature fully automated assembly of replacement toner cartridges for printers and copiers, the Nikkei reported on Friday, without citing sources.

    This would mark the company’s first new construction of an overseas toner cartridge factory in about 20 years, the business daily said.The new U.S. factory, to be built near a site occupied by toner production subsidiary Canon  Virginia Inc., will have a floor space of around 63,000 square meters.Construction will begin this September and factory operations are expected to start as early as December 2009.Canon will employ around 700 workers including engineers at the new plant, the report said.The company plans to lower its costs-to-sales ratio on a consolidated basis by 6 percentage points from the current level to 45 percent by around 2010, it said.