CANON TO SPEND ANOTHER $ 381M TO RAISE TONER PLANT OUTPUT

[Anonymous]

http://www.bloomberg.com/apps/news?pid=20601101&sid=aruQXNwB5vLs&refer=japan
Canon Will Spend 40 Billion Yen to Raise Cartridge Parts Output
May
08 — Canon Inc., Japan’s biggest office- equipment maker, will spend
40 billion yen ($381 million) through the end of 2010 to raise output
of parts for toner cartridges as demand climbs.The investment will be
made in the plant in Oita, on the southern island of Kyushu, Canon said
in an e-mailed statement today. Total spending will rise to about 100
billion yen by the end of the project’s second phase, the Tokyo-based
company said, without giving a timeframe.

Construction of the
plant is scheduled to start in December, with operations slated to
begin in September next year, Canon said.Canon this month said it will
spend $600 million in the U.S. to build a factory to produce
laser-printer cartridges in Hampton Roads, Virginia. Profit at the
company’s business machines division, which includes laser printers,
rose 7.6 percent in the first quarter, Canon reported on April 24. The
unit accounted for 68 percent of total sales in the period.

[Author]

May 29, 2008 at 2:59 PM