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Kawasaki Steel, Nippon Yakin ally in stainless steel sector.

TOKYO, July 30 Kyodo

Kawasaki Steel Corp. and Nippon Yakin Kogyo Co. said Tuesday they have reached a comprehensive tie-up agreement in the field of stainless steel.

The deal is aimed at improving the two companies' competitiveness, the partners said in a joint statement.

Under the agreement, they will farm out cold-roll processing of some stainless steel products -- chromium steel from Kawasaki and nickel steel from Nippon Yakin.

Commissioned production is expected to start this fall, involving about 2,000 tons per month from Kawasaki and 800 to 1,000 tons from Nippon Yakin.

Chromium stainless steel is used in such products as automobile parts. Nippon Yakin's high-performance nickel stainless steel can be used in electronic components.

The agreement also calls for the partners to cooperate in the development of products, procurement of materials and reduction of distribution costs.

It marks another development in the growing consolidation of the stainless steel sector. Nippon Steel Corp. and Sumitomo Metal Industries Ltd. announced a plan last month to integrate operations.
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Comment:Kawasaki Steel, Nippon Yakin ally in stainless steel sector.
Publication:Japan Weekly Monitor
Geographic Code:9JAPA
Date:Aug 5, 2002
Words:168
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