Kobe Steel plans to construct aluminum material mill in US
Japan's Kobe Steel has decided to construct a Yen 4 billion (approx. $32.8 million) worth aluminum material mill in the US. The mill is going to produce aluminum forgings which is used in automobile suspension systems.
According to company statement, the mill is scheduled to initiate in 2005 and will be located in Bowling Green, Ky.
Through this project, Kobe Steel plans to form a joint venture with the other Japanese companies. But, the partners have not been decided upon yet by the company.
By this new mill, sales are forecast to reach $25 million in 2006. Furthermore, the mill will have 78 workers.
According to company authorities, Kobe Steel's new joint venture which is called Kobe Aluminum Products is going to supply aluminum forgings to both US
automotive manufacturers and Japanese
automotive manufacturers in the US.