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November 13, 2006
    

CHQ Steel Wire Manufacturing and Sales Company to be Established in Thailand

 

Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Moriji Kanada) will invest in a new venture in the Eastern Seaboard Industrial Estate in Rayong Province, Thailand in December. The new company will be launched by Nippon Steel Corporation with Matsubishi Metal Industry Co., Ltd., Miyazaki Seiko Co., Ltd., Sanyu Co., Ltd. and Suzutoyo Seiko Co., Ltd. The company will be named Nippon Steel Bar & CH Wire (Thailand) Co., Ltd. and will manufacture and sell CHQ (cold heading quality) steel wire. Other trading company such as Toyota Tsusho Corporation will also invest in this new venture.

The new company will be capitalized at 700 million. Nippon Steel will own 28%, Matsubishi Metal Industry, Miyazaki Seiko, and Sanyu 14% each, Suzutoyo Seiko 8%, Metal One 10%, and Toyota Tsusho 12%. From around July 2007, the company will begin manufacturing and selling CHQ steel wire. This material is used to produce safety-critical components, such as nuts, bolts, and other fasteners, for Thai cars. Annual production capacity is scheduled to increase in stages from the initial 12,000 to 40,000 tonnes.

Up to now, the manufacturing and sales of CHQ steel wire had been handled by T.S.K. Wire Co., Ltd. (annual production capacity of 12,000 tonnes), a joint venture between Nippon Steel and Suzutoyo Seiko subsidiary T.S.K. Forging Co., Ltd. However, increased demand is expected in Thailand and, along with offering more robust manufacturing capabilities, the new company will aim to respond to customers' increasingly sophisticated and diversified needs from here on.

<For supplementary reference>
Outline of Nippon Steel Bar & CH Wire (Thailand) Co., Ltd.
  1. Name: Nippon Steel Bar & CH Wire (Thailand) Co., Ltd.
  2. Headquarters: Eastern Seaboard Industrial Estate, Rayong Province, Thailand
  3. Main shareholders: Nippon Steel (28%), Matsubishi Metal Industry (14%), Miyazaki Seiko (14%), Sanyu (14%), Suzutoyo Seiko (8%), Metal One (10%), Toyota Tsusho (12%)
  4. Start of operation: December 2006 (planned)
  5. Production capacity: Approx. 40,000 tonnes/year
 
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