Japanese joint venture for pail-making

Japanese joint venture for pail-making

The Japanese major steel maker Nippon Steel and steel trading company Metal One Corp. together with JFE Container Co. have established a joint venture in January 2003 according to the announcement made yesterday. The new joint venture will integrate these companies' pail-making operations. Metal One will own the 40% stake, JFE Container 30% and Nippon Steel 30% of the joint venture company, name and capitalisation value o which haven not yet been determined. The joint venture is expected to produce 1 million pails per month with annual sales around Yen 6 million. JFE Container Co. has been formed through the merger of Kawasaki Steel Container Co. Ltd. and Kokan Drum Co Ltd. on April 1, 2003, headquartered in Hyogo Prefecture.