Mitsui & Co to liquidate its US subsidiary

Mitsui & Co to liquidate its US subsidiary

According to recent news in the market, Japanese firm Mitsui & Co has announced that it will liquidate its US subsidiary Pinnacle Steel Processing Inc by January 2008. The company officials stated that Pinnacle Steel, which is a steel processing company established in 1993, has lost its significance for Mitsui. Pinnacle Steel is a joint venture between Mitsui & Co and its New York-based unit.