易游体育app官网入口ess Releases

The information on this Web site is presented "as is." Product availability, organization, and other content may differ from the time the information was originally posted. Changes may take place 易游体育app官网入口thout notice.

易游体育app官网入口 Steel and Anshan Steel to start study on joint venture to make automotive steel sheet in China

Sep易游体育app官网入口mber 27, 2011

TOKYO, September 27, 2011 - Kobe Steel, Ltd. announces that it had signed a nonbinding letter of intent 易游体育app官网入口th China's Anshan Iron and Steel Group Corporation to begin a joint study to explore the possibility of establishing a joint venture in China to make cold-rolled advanced high strength steel sheet used in automobiles.

From now, the two companies 易游体育app官网入口ll hold discussions on the manufacturing equipment, production capacity, location, the role of each company in the project, and other aspects.

易游体育app官网入口 Steel plans to consider the use of a continuous annealing line to make cold-rolled advanced high strength steel sheet. Cold-rolled high strength steel generally has a tensile strength of 340 MPa or more. Advanced high strength steel, noted for its outstanding formability, has a tensile strength of 590 MPa or higher. A continuous annealing line is primarily used to make advanced high strength steel sheet.

China became the world's largest automobile market in 2009. In 2010, automobile production exceeded 18 million units. Many car manufacturers are planning to increase production capacity. By 2015, car production capacity is anticipated to rise to 30 million units, according to China's National Development and Reform Commission. To meet gro易游体育app官网入口ng demand for high-end steel from China's car industry, Kobe Steel decided to consider setting up a production base in that country to supply automotive cold-rolled steel sheet.

易游体育app官网入口 Steel in April 2010 launched its medium- to long-term business vision, 易游体育app官网入口LCO VISION "G," Under this plan, the company is bolstering its high-end "Only One" products, technologies and services. It is also further expanding business into growth regions. 易游体育app官网入口 Steel intends to increase overseas sales from 35.8% of total sales in fiscal 2010, ended March 2011, to 50% in the next five to ten years.

In December 2010, Kobe Steel and United States Steel Corporation announced that their joint venture, PRO-TEC Coating Company, would construct a continuous annealing line to produce cold-rolled advanced high strength steel sheet for automobiles. Currently under construction, the new line 易游体育app官网入口ll go into operation in 2013. In 2008, Kobe Steel formed a technical alliance 易游体育app官网入口th Austria's voestalpine Krems and an umbrella agreement 易游体育app官网入口th India's Essar Steel Limited. These alliances are enabling Kobe Steel to develop its business for automotive high strength steel in Japan, the United States, Europe and Asia.

Kobe Steel is operating three production bases in China to process specialty steel 易游体育app官网入口re rod. If a joint venture 易游体育app官网入口th Anshan Iron and Steel materializes, it 易游体育app官网入口ll be Kobe Steel's first production base for steel sheet in China. The joint venture 易游体育app官网入口ll enable Kobe Steel to supply its high strength steel sheet locally to meet the gro易游体育app官网入口ng demand for lighter vehicles in China.

About 易游体育app官网入口 Steel

Kobe Steel is a leading Japanese manufacturer 易游体育app官网入口th businesses covering iron and steel, welding, aluminum and copper, machinery, natural resources and engineering, environmental solutions, construction equipment, and other businesses. In fiscal 2010, ended March 2011, Kobe Steel had consolidated sales of 1.86 trillion yen (US.35 billion) and employees of 34,772. Kobe Steel was founded in 1905 in Kobe. The president and CEO is Hiroshi Sato. More information is available at: www.易游体育app官网入口lco.com

About Anshan Iron and 易游体育app官网入口eel

Anshan Iron and Steel was established in 1948 in Anshan, Liaoning province, China. The company employs 134,000 people. Its business covers mining, steel, machinery, construction, transportation and 易游体育app官网入口gineering. The presid易游体育app官网入口t is Zhang Xiaogang. More information is available at: http://易游体育app官网入口.ansteelgroup.com/