YANGON, NNA - Plastic molding parts maker Mutsumi Special Alloy Industry Co. will open a factory in Myanmar by the year’s end to meet growing demand from Japanese companies operating in the Southeast Asian country.
Mutsumi is investing $3 million to open the plant in the Bagon Region, about 70 kilometers northeast of Yangon, later this year, Director Hiroyuki Fujii told NNA.
Mutsumi & Mingalar Co., a Myanmar joint venture owned 95 percent by the Mutsumi group with the remaining 5 percent held by a local investor, started building the plant in May 2018, said Fujii, who is also managing director of the local unit.
The joint venture plans to meet demand from the increasing number of Japanese companies operating in Myanmar, he said, adding that its potential clients are “expected to increase local procurements of precision resin parts" for auto components and home appliances among other industrial products.
Mutsumi’s Myanmar arm is setting an initial monthly sales target of $200,000 and aims to raise the monthly turnover to $1 million in two years while boosting the number of employees from about 10 to 100 over the same period, Fujii said.
Mutsumi & Mingalar is providing a Japanese-language course for local workers before they undergo training in Japan as technical experts on metal mold production at a factory in Akita Prefecture, with an eye to having them work at the Myanmar plant in the future.
The Japanese firm is supported by the nonprofit Wind of Mingalar Japan to hire and train local workers, Fujii added. (NNA/Kyodo)