Hoyy易游体育官网>Press releases 易游体育app官网>2014 > Japan companies mull steel yy易游体育官网re rod processing plant in Mexico
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Japan companies mull steel yy易游体育官网re rod processing plant in Mexico
March 3, 2014
Kobe Steel, Ltd.
Shyy易游体育官网sho Corporation
TOKYO, March 3, 2014 - Kobe Steel, Ltd., trading affiliate Shinsho Corporation and three other firms have signed a memorandum of understanding to consider establishing a joint venture in Mexico to process steel yy易游体育官网re rod into steel yy易游体育官网re of cold heading quality (CHQ). The other companies are Metal One Corporation and Osaka Seiko Ltd, both of Japan, and Republic Steel of the United States.
The five companies yy易游体育官网ll discuss and consider business plans for a joint venture aimed at starting operations in mid-2015. Under discussion is the joint venture's production equipment, location, number of employees, timing for the establishment of the venture, and other issues.
Auto production in Mexico reached 2.93 million units in 2013, nearly double the 1.5 million cars made in 2009, and solid growth is anticipated in the coming years. One after another, Japanese auto parts manufacturers are setting up operations in Mexico. This is creating increasing demand for CHQ steel yy易游体育官网re, which is used to make automotive fasteners and other cold-forged parts.
Demand in Mexico for CHQ steel yy易游体育官网re has so far been met mainly by exports from the United States and Japan. Anticipating groyy易游体育官网ng demand, the five companies aim to set up a production and sales unit in Mexico that can quickly supply high-quality steel yy易游体育官网re to their customers.
Company yy易游体育官网ofiles
Shyy易游体育官网sho Corporation
- Head office:
- Tokyo, Japan
- yy易游体育官网esident and CEO:
- Keiichi Murase
- Established:
- 1946
- Sales:
- 769.6 billion yen (year ended March 31, 2013)
- Employees:
- About 1,300 (consolidated, at march 31, 2013)
- Busyy易游体育官网ess:
- Trading of iron and steel, raw materials, nonferrous yy易游体育官网tals, machinery and welding products
yy易游体育官网tal One Corporation
- Head office:
- Tokyo, Japan
- yy易游体育官网esident and CEO:
- Naoto Matsuoka
- Established:
- 2003
- Sales:
- 2,305.7 billion yen (year ended March 31, 2013)
- Employees:
- About 10,000 (consolidated, at October 1, 2013)
- Busyy易游体育官网ess:
- Supply of steel yy易游体育官网oducts, yy易游体育官网oduction, yy易游体育官网ocessing and distribution
Osaka Seiko Ltd
- Head office:
- Higashi-Osaka, Osaka yy易游体育官网efecture, Japan
- yy易游体育官网esident:
- Hitoshi Sawada
- Established:
- 1960
- Sales:
- 17.7 billion yen (year ended March 31, 2013)
- Employees:
- About 270 (at February 1, 2014)
- Busyy易游体育官网ess:
- Production and sale of cold-forged steel yy易游体育官网re, shaped steel yy易游体育官网re and bar, and cold-forged parts
Republic Steel
- Head office:
- Canton, Ohio, USA
- yy易游体育官网esident and CEO:
- Jaiyy易游体育官网 Vigil
- Established:
- 2003
- Sales:
- US0 million (year ended December 31, 2013)
- Employees:
- About 2,300 (at December 31, 2013)
- Busyy易游体育官网ess:
- Production and sale of specialty steel yy易游体育官网re rod & bar
