CANON:TO SPEND $ 575million ON A U.S. TONER PLANT

[Anonymous]

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.

[Author]

May 5, 2008 at 4:59 PM