Metal parts and equipment maker Nissin Electric Co of Japan will build a plant in Myanmar, relocating some production processes from its factories in Thailand and Vietnam to cut labour costs in its contract manufacturing business. The local arm, tentatively named Nissin Electric Myanmar Co, plans to make electrical equipment and take on contract manufacturing of such machines and parts, it said in a statement. The Nissin group will hold a 95% stake and Hosoda the remainder in the Myanmar venture. Nissin manufactures all of its products in the sector in Thailand and Vietnam. Its plants in the two countries -- operated by Nissin Electric (Thailand) Co and Nissin Electric Vietnam Co -- account for 60% and 40% of the total sales, respectively, the spokesman said.

Source: Bangkok Post May 31, 2019 07:30 UTC