Japanese NSSMC to Set up a Company & Plant of Cold Press Steel Wire Rod in China

Nippon Steel & Sumitomo Metal Corporation (NSSMC) announced in June that it would set up a new plant and company in China in order to expand the processing structure, prodcution, and sales of cold press steel wire of NBC China. This decision was agreed among NBC's co-investors (Matsubishi Metal Industry; Miyazaki Seiko; SANYU; Toyota Tsusho; Metal One; Nippon Steel & Sumikin Bussan Corporation).

Overview of the new company:

Title: Nippon Steel & Sumikin Cold Heading Wire (Suzhou) Co., Ltd.

Location: Jiangsu Sheng Suzhou Wuzhong Economic and Technological Development Zone, Jiangsu Province, China

Line of business: Production and sales of cold heading wire

Registered capital: 15 million USD

Investment percentage: NSSMC: 28%; MATSUBISHI METAL INDUSTRY CO., LTD.: 14%; Miyazaki Seiko Co., Ltd.: 14%; SANYU CO., LTD.: 14%; Toyota Tsusho Corporation: 12%; Metal One Corporation: 9%; NIPPON STEEL & SUMIKIN BUSSAN CORPORATION: 9%

Amount of investment: Approx. 3.2 billion yen

Investment details: Pickling and coating facilities, two heat treatment furnaces, with three wire drawing machines added to two existing machines, amounting to five machines in total.

Production capacity: 42,000 tons/year

New plant's start of operations:  June 2015