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Japanese steelmakers to jointly build new steel pipes plant in Mexico
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It is reported several Japanese companies including Nippon Steel is forming a joint venture to build a steel plant in the central Mexico.
The US$39.6 million new plant is set to supply steel pipes to automotive industry and its production is expected to begin in mid of 2013.
Nippon Steel will have 55% shares of the new joint venture while its partners including Sumitomo Pipe & Tube, Sumitomo Corporation and Metal One will control the remainder.
According to Nippon Steel’s plan, the raw materials will be imported from Japan and the US. The target customers including Japanese automakers Nissan and Honda, also GM, Ford and Volkswagen who have factories in Mexico.
News Date
8/9/2012 1:25:21 AM
reported by
Raul Lee
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