Japanese steel maker Nisshin Steel Co., Ltd has announced that it plans to establish a new joint venture in Taiwan with Taiwan-based Jie Jin Material Technology Co., Ltd and Japan-based Marubeni-Itochu Steel Co., Ltd. The new joint venture, Taiwan Nisshin Precision Steel Co., Ltd, will manufacture and sell high-quality stainless precision rolled products for the growing demand in the automotive and IT-machine sectors in East Asia and Southeast Asia.
Nisshin Steel will have a 50.5 percent interest in the new company, while Jie Jin will have a 44.5 percent interest and Marubeni-Itochu Steel will hold a five percent stake.