NGK Insulators to Dissolve China-Based Subsidiary
Business results for NGK Insulators Tangshan Co., Ltd. have been declining due to factors such as harsh competition.
NGK Insulators, Ltd. recently announced that, at a meeting of the board of directors held on March 25, 2019, it resolved to dissolve its NGK Insulators Tangshan Co., Ltd. subsidiary. NGK established the manufacturing subsidiary in Tangshan, China, in 1996 in order to address increased demand in the Chinese market for power insulators and as a manufacturing base for export. However, business results have been declining due to factors such as harsh competition. It has been determined that a future recovery would be difficult, and, as a result, it was decided to dissolve the subsidiary.
The specific schedule for completion of liquidation has not been decided. For more information, visit www.ngk-insulators.com.