Japan’s Mitsui agrees to set up steel service center in Russia with Severstal
It is reported that Japan’s Mitsui decided to sign joint venture agreement with Russia’s Severstal to set up new steel service center in Russia.
The new service center will be able to supply steel for automobile industry with designed annual production capacity approximately 170 thousand tons.
It’s said that the new service center is scheduled to join operation in middle of 2013.
Also, this is first Japanese steel company to launch steel service center in Russia market.
Meanwhile, both companies will be able to share their steel market experiences and strengths in order to establish a long term business relationship accordingly.