Japan's MITSUI ENGINEERING & SHIPBUILDING CO. (TSE:7003) will build a joint venture plant in China to manufacture autoparts equipment in January 2011. The company has established a joint venture company with semiconductor materials manufacturer FERROTEC CORP. (TSE:6890) in an industrial park in Shanghai.
* Mitsui Engineering put up 60 per cent of the new company's 400 million yen (US$4.72 million) capitalization.
* The plant, which will produce equipment for making forged parts used in shafts and springs, is projected to have annual production capacity of 100 units per year and will be placed in service in April.
