NSK Canada reporting line changes
Mississauga, ON -- Jan. 16, 2002 -- NSK Canada has seen a change at its parent organization. NSK Ltd. of Tokyo, Jap...
Mississauga, ON — Jan. 16, 2002 — NSK Canada has seen a change at its parent organization. NSK Ltd. of Tokyo, Japan, which has been implementing a restructuring program at its operations around the world, has shuffled executives.
NSK began implementing emergency measures in November 2001 to restore sharply deteriorating earnings potential, centred in its precision products business, after having been badly affected by the collapse of the IT bubble and the simultaneous recession of the world’s economy. NSK has projected a loss of more than US$60 million for its current fiscal year.
Larry McPherson, head of NSK Americas, Ann Arbor, Mich., is now the CEO of NSK Europe, Nottinghamshire, England. Mistuo Degura, former head of NSK Europe, remains deputy head of NSK Europe’s Restructuring Office. Karou Muramoto is now president, CEO and CFO of NSK Americas. NSK Canada now reports to Muramoto.
In other news, NSK Canada was recently awarded a Supplier of the Year Award by Bombardier’s Recreational Division, based in Valcourt, Que. NSK scored 99 out of a possible 100 covering Bombardier’s supplier criteria in the areas of quality and delivery.
“Winning this award with Bombardier is a demonstration of NSK’s commitment to its customers,” said Terry Quinn, president of NSK Canada.
NSK Canada is one of a small group of suppliers who supply Bombardier with parts for all three lines of its recreational vehicle family including the Skidoo, Sea-Doo and ATV.
By Bill Roebuck, Editor