Sumitomo Corporation (headquartered in Chuo-ku, Tokyo; president: Susumu Kato), Metal One Corporation (headquartered in Minato-ku, Tokyo; president: Moriji Kanada), and Nippon Steel Corporation (headquartered in Chiyoda-ku, Tokyo; president: Akio Mimura) have come to an agreement to build up the capacity of Thailand-based investing company Siam Tinplate Co., Ltd. (STP).
In Thailand, under the government-initiated slogan "Kitchen of the World," industrial concentration as a means of establishing a major stronghold of food can exports has been progressing, with the accompanying growth in tinplate demand now touching the 600,000-tonne level, the highest of all ASEAN member countries.
Since commencing operations in 1992, STP has steadily responded to domestic demand for tinplate in this growing economy. However, now that Thai can-makers are showing a strong willingness to make capital investment in the form of expanded capacity, particularly to increase the production of cans for fish, fruit, vegetables, and other kinds of food, STP finds it necessary to respond to requests for additional supplies of tinplate products.
It is firmly believed that STP's capacity buildup this time will enable STP to better respond to the increasingly sophisticated quality requirements of Thai can-makers and make timely deliveries, which will significantly contribute to the development of the Thai food industry.
Outline of STP
||Siam Tinplate Co., Ltd.
||Map Ta Phut Industrial Estate, Rayong
||800 million baht
||Japanese side-71.5% (Sumitomo: 28.2%; Metal One: 18.4%; Nippon Steel: 15.6%; Nittetsu Shoji: 7.0%; Tomiyasu: 2.2%); Thai side-28.5%
||Approx. 1,400 million baht (Approx. ¥4,900 million)
||Approx. 260,000 tonnes per year (existing line and new line)
||Start of commercial operation:
||July 2009 (target)