Japanese steel company Nippon Steel & Sumitomo Metal Corporation (NSSMC) has formed a joint venture with Indonesian PT Krakatau Steel (Persero) Tbk. The joint venture PT Krakatau Nippon Steel Sumikin (KNSS) began commercial production of automotive sheet steel products at the end of July this year. The opening ceremony took place in the first week of August and was attended by company representatives and government officials from both countries.
The plant, located in Cilegon, Banten province, consists of an integrated production line consisting of a continuous annealing line and a continuous galvanizing line, capable of producing high quality and high strength cold rolled steel and hot dip galvanized steel products for the growing Indonesian automotive market. The new production line will produce anti-corrosion steel to a high standard, furthering the development of the Indonesian automotive industry.
The total investment of the joint venture is about US $ 300 million. The plant employs 280 people and has a production capacity of 480,000 metric tons per year. NSSMC holds a majority share (80%) in the joint venture, while the balance is 20% held by PT Krakatau Steel.
NSSMC recently announced the opening of a new rod and wire plant in Shelbyville, Indiana. It also established a manufacturing base in Europe through the acquisition of Ovako AB's headquarters in Sweden.
Nippon Steel JV Started Manufacturing High Strength Automotive Steel Products
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Azovpromstal® 9 August 2018 г. 10:44 |
