China Steel Sumikin Vietnam Joint Stock Company holds Its Ground Breaking Ceremony
2011.09.09
- Sumitomo Metal Industries, Ltd.
China Steel Sumikin Vietnam Joint Stock Company (CSVC), a joint venture of Sumitomo Metal Industries, Ltd. (Sumitomo Metals) and China Steel Corporation (CSC) held its groundbreaking ceremony at My Xuan A2 Industrial Zone, Ba Ria-Vung Tau Province, Vietnam on September 8th, 2011. Around 500 people from Vietnam, Taiwan, and Japan, attended the ceremony including the Deputy Minister of Ministry of Industry and Trade, Deputy of Ba Ria-Vung Tau Province, government officials, the Japanese Consul General, and representatives from invested companies. .
CSVC is the greenfield project to manufacture and supply galvanized steel sheet for automobiles and electronic appliances and electromagnetic steel sheets for motors and electric vehicles. This is the first overseas project in this business for Sumitomo Metals and CSC, and represents the first time that production lines for those products are installed in ASEAN. With 1.6 million ton annual capacity, CSVC will become one of the largest steel sheet manufacturing bases in Vietnam.
CSVC obtained the investment certificate from the Vietnam Government in 2009 and has been preparing to start operation in 2013.
At the ceremony, Mr. Tomono, President of Sumitomo Metals, stated that “Together with my partners in Vietnam and those from Taiwan and Japan, we would like to nourish new business spirits, create corporate value, and contribute to Vietnam’s development.”
With the CSVC project, Sumitomo Metals will build a strong foothold in the growing ASEAN market. In Brazil, the company also held the inauguration to celebrate completion of a seamless pipe integrated steel works which uses charcoal for blast furnace on September 1, with President Dilma Rousseff of Brazil among the guests.
[Outline of CSVC]
| 1. | Name of the company: | China Steel Sumikin Vietnam Joint Stock Company | |
| 2. | Date of establishment: | May 12th, 2009 | |
| 3. | Head office location: | My Xuan A2 Industrial Zone, My Xuan Commune, Tan Thanh District, Ba Ria-Vung Tau Province, Socialist Republic of Viet Nam | |
| 4. | Business activities: | Manufacturing and sales of hot rolled steel plate, pickled and oiled steel sheet, cold rolled steel sheet, hot-dip galvanized steel sheet, and electrical steel sheet | |
| 5. | Capacity: | 1.6 million metric tons per annum | |
| 6. | Equipment: | Heavy gauge shearing line, pickling and tandem cold rolling mill, continuous annealing line, continuous galvanizing line, and annealing and coating line | |
| 7. | Total investment: | USD 1.15 billion | |
| 8. | Start-up of commercial operation: | 2013 | |
| 9. | Shareholders: | China Steel Corporation (Taiwan) | 51% |
| Sumitomo Metal Industries, Ltd. (Japan) | 30% | ||
| Sumitomo Corporation (Japan) | 5% | ||
| Others | 14% | ||
[Reference: Cooperative business activities of Sumitomo Metals and CSC]
| 2003 | A joint venture of upstream process of Wakayama Steelworks was established. (East Asia Iron Steel Association) |
| 2007 | The CSC Group acquired an equity stake in Thai Sumilox Co., Ltd., a
coil center of the Sumitomo Group in Thailand. (Ownership:Sumitomo Metals 52%, CSC Group 15%) |
| 2008 | Sumitomo Metals acquired an equity stake in CSGT Metal Vietnam Joint
Stock Company, a coil center of the CSC Group of Vietnam. (Ownership:Sumitomo Metals 13%, CSC Group 45.4%) |
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From left: Dr. Tsou, Jo-chi (Chairman of CSC), Dr. Hiroshi Tomono (President of Sumitomo Metals) |
From left：Dr. Hiroshi Tomono (President of Sumitomo Metals), Dr. Tsou, Jo-chi (Chairman of CSC) |
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Groud Breaking Celemony Dr. Hiroshi Tomono (President of Sumitomo Metals) |
From left: Dr. Hiroshi Tomono (President of Sumitomo Metals) (Senior Managing Executive Officer of Sumitomo Metals) |
