Nippon Steel eyes plant in Thailand to make wire rods for vehicles.
Nippon Steel Corp. said Monday it will set up a factory in Thailand to make wire rods for bolts used in vehicles in cooperation with six other Japanese firms, including Toyota Tsusho Corp., the Toyota group's trading unit.
In light of Japanese automakers' growing production in Thailand, Nippon Steel has decided to set up Nippon Steel Bar & CH Wire (Thailand) Co. in December, which will become operational as early as July 2007.
Investment in the facility for the Thai company will total about 1.85 billion yen and the plant will have annual production capacity of about 40,000 tons of wire rods, the company said.
For Nippon Steel, the Thai factory will be the second overseas base manufacturing wire rods for bolts. The company already has a plant in Suzhou, China.
In addition to Toyota Tsusho, other companies taking part in the new plant project include steel firms Miyazaki Seiko Co., based in Nagoya, and Sanyu Co., based in Hirakata, Osaka Prefecture.
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|Publication:||Japan Transportation Scan|
|Date:||Nov 13, 2006|
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