Takenaka Seisakusho Co., Ltd., a Japanese manufacturer specializing in the production of rust-proof screws announced that they has invested 0.3 billion Yen in building a factory in United Arab Emirates to manufacture the coatings like Teflon for bolts and screws. These coatings will be supplied to local petroleum factories in UAE. The local investment companies will invest 51% of the fund, and the Japanese company takes charge of 46%. GSIGreos, a Japanese company supplying  surface treatment materials to Takenaka Seisakusho will be responsible for the rest. The factory covers an area of 632 square metre, equiped with automatic production lines. The building of factory will start in February 2017. The company is not optimistic of the sales growth in Japanese domestic market, thus it is badly in need of opening up oversaes market.

Source: news.toocle.com