Japanese corporation initiates investment project of €2m in Moldova

The Japanese corporation SUMIDA will launch an investment project to the value of €2 million in Balti town. The investment will be made through subcontractor IMElektromanufakturingSRL, which will produce electromagnetic transformers for domestic appliances, especially TV sets and radios, in Moldova, Info-PrimNeohas learned from the Ministry of Economy. Initially, they will construct a factory in the Balti Free Zone, where there will be created 600 workplaces. SUMIDA Corporation was founded in 1956. With a global turnover of 52 billion yen in 2011(US$571 million), it is listed on the Tokyo Stock Exchange and owns factories in Japan, China,Mexico,Vietnam,Thailand,Germany,Romania, and Slovenia. SUMIDA is a leading manufacturer of coilsand wire-wound electronic products, such as power inductors and RF inductors, and automotive products.