Vijayawada: THK, a Japanese major, signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) on Tuesday. This MoU was signed by THK president and CEO, Akihiro Teramachi, and APEDB CEO J. Krishna Kishore, in the presence of Chief Minister N. Chandrababu Naidu.
THK, established in 1971 is a $3.6 billion Japanese major that develops and manufactures Linear Motion Guides for industrial equipment and transportation vehicles. The industrial equipment-related segment manufactures and sells machinery equipment components, such as linear motion (LM) systems, as well as industrial machinery.
The transportation vehicle-related segment is engaged in the development, design, manufacture and sale of steering and suspension parts of automobile and two-wheel vehicles, such as link balls and suspension ball joints and others. THK would invest a total of $200 million, $50 million in the first phase in Sri City and will manufacture LM guides to cater to the growth of the industrial market in India. The manufacturing facility, spread across 50 acres will start construction by August, 2018.
