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Japanese Nippon Steel & Sumitomo Metal Corporation to Establish a Joint Venture Manufacturing Steel Wires for Cold Heading and Forging in USA
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2016-03-25
Nippon Steel & Sumitomo Metal Corporation (hereinafter “NSSMC”) has decided to establish a new company called, “NIPPON STEEL & SUMIKIN COLD HEADING WIRE INDIANA INC. (hereinafter “NSCI”), manufacturing and selling steel wires for cold heading and forging for automobiles in Indiana, USA. NSCI will be established through joint investment from Matsubishi Metal Industry Co., Ltd., Nippon Steel & Sumikin Steel Processing Co., Ltd., Miyazaki Seiko Co., Ltd., Sanyu Co., Ltd., Toyota Tsusho Corporation, Nippon Steel & Sumikin Bussan Corporation, Metal One Corporation, and Sumitomo Corporation.
| Business | : | Manufacture and sales of steel wire for cold heading and forging |
| Capital | : | US$24 million |
| Investment | : | Approximately US$50 million |
| Capacity | : | 39,000 ton/year |
| Production start | : | Scheduled for January 2018 |
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