Onamba to Expand Electric Cable Output Capacity

Osaka based electric wire maker, Onamba Co., Ltd. announced on Wednesday the firm expends 539 million yen for domestic electric cable plant. The firm triples the output capacity of ultra fine coaxial cable and increases the capacity of 3 layered cable to 5 times by the end of 2008 at Osaka plant. The firm will build new plant for wiring unit of solar power generation in Vietnam. The firm tries to improve the profitability through the shift to higher valued products. The firm announced on February 27 one million of new share issuance, 150,000 of share sales through over allotment and 150,000 of allocation of new shares to third party. The firm plans to use 539 million yen for capital expenditure out of estimated 1.256 billion yen of generation through the finance while the firm allocates 389 million yen for investment and loan and 327.73 million yen for repayment of debt. The firm expends 204 million yen for expansion of ultra fine coaxial cable at Osaka plant finishing October 2008. The firm completes the 100 million yen expansion of 3 layered cable at Osaka plant in December 2008. The firm expands the output capacity of electric cable by 10% each at Mie plant for 165 million yen and at Tohoku plant for 70 million yen. The firm will complete the works in August 2008 for Mie and August 2007 for Tohoku. The firm invests 389 million yen for Vietnamese plant. The firm completes the works in August 2008 to expand the output capacity by 50% in the group.