Sumitomo Metals to renew research laboratory with JPY 10 billion investment

Japanese steelmaker Sumitomo Metal Industries, Ltd. (Sumitomo Metals) announced on June 24 that it has decided to renew the facilities of its Corporate Research & Development Laboratories at Amagasaki city with an investment of JYP 10 billion  ($111.67 million), adding that construction work has been started.
  
According to the company statement, the aims of the renewal project, which will entail the construction of a new research building and a new laboratory, are to enhance the laboratories' capabilities as an urban-type research base, to promote technological development and ultimately raise customer satisfaction.
 
The construction of the laboratory is expected to be completed by May 2012.