Stock News: Norelco UMS to invest 20 mln usd on new manufacturing plant

Semiconductor and hard disk drive (HDD) equipment maker Norelco UMS Holdings Ltd said it will invest 20 mln usd on a new manufacturing plant here that will make aerospace parts and components. The facility, to be built by Boustead Projects Pte Ltd and leased to Norelco UMS, is expected to be completed in September next year. Norelco said its investment covers equipment and other infrastructure to make the plant ready for production in January 2008. "The group's new aerospace facility is expected to generate annual revenues of about 100 mln usd five years from now," Norelco UMS said in a statement.