Japanese steelmaker Nippon Steel and Sumimoto Metal Corporation (NSSMC) has announced that as part of its 2020 Mid-term Management Plan, the company decided to improve its wheel mill, the rolling facility for wheel production at the Osaka Steel Works of the Railway, Automotive & Machinery Parts unit.
By investing approximately JPY2.4 billion ($21.4 million) into the wheel mill, the company aims to provide higher-grade, higher-value-added wheels to its worldwide customers and to meet the latest European Standards by advancing its rolling technology.
The new facility is expected to commence operations by the end of 2020 fiscal year.