Enhancement of Joint Venture (Mitsubishi Steel Muroran Inc.) with Mitsubishi Steel Mfg. Co., Ltd.
Apr. 28, 2017
Nippon Steel & Sumitomo Metal Corporation
Enhancement of Joint Venture (Mitsubishi Steel Muroran Inc.) with Mitsubishi Steel Mfg. Co., Ltd.
Nippon Steel & Sumitomo Metal Corporation (NSSMC), together with Mitsubishi Steel Mfg. Co., Ltd. (MSM), established Mitsubishi Steel Muroran Inc. (MSR) in 1992 and has jointly operated it as a joint venture manufacturing specialty steel in Muroran, Hokkaido.
With respect to this joint venture, NSSMC has recently reached an agreement with MSM that NSSMC and MSM will change and enhance the joint venture with the aim of further optimizing their respective manufacturing structures in Muroran, Hokkaido. Details are as follows:
1. Enhancement of the joint venture
1)NSSMC to increase volume in outsourced manufacturing of steel billets to MSR;
2)Establishment of organization in MSR and technology transfer from NSSMC to MSR, to secure the quality of steel billets that NSSMC will outsource to manufacture to MSR; and
3)NSSMC to increase its shareholding ratio in MSR from 20% to 30%
2. Planned schedule
| October 2017(plan) | NSSMC to increase its shareholding ratio in MSR |
| After October 2017(in stages) | Establishment of organization and technology transfer to secure the quality of steel billets NSSMC to increase volume in outsourced manufacturing of steel billets |
By promoting measures to enhance competitiveness, including the joint venture, NSSMC is determined to further improve its strengths (i.e., technological superiority, cost-competitiveness and worldwide capabilities) and ensure the position of NSSMC as the “Best Steelmaker with World-Leading Capabilities”, thereby aiming to achieve sustainable growth and enhance our corporate value.
For more information, please contact:
Public Relations Center, General Administration Div.
TEL: +81-6867-2135, 2146, 2977, 3419
