Japanese Mitsui and British William King in new JV
Japanese
trading company Mitsui & Co. and British flat steel distributor William King are in preparations of establishing a new coil center for steel sheet in Czech Republic. Both companies will have 50% stake in the joint venture.
The joint venture is planned to become operative in November 2004 with slitter, leveler and blanking machines.
An investment of about Yen 3 billion is intended to be made to construct coil center at near Kolin, east of Prague. The joint venture will have a processing capacity of 120'000 tons.
The coil center is going to serve Toyota Peugeot Citroen Automobile Czech (TPCA) and Western European automobile producers.