Nippon Steel and Sumitomo started their new jv
Nippon Steel and Sumitomo Metal Industries have started their new stainless steel joint venture formally on October 1, 2003. The new joint venture company, namely Nippon Steel&Sumikin Stainless Steel Corp (NSSC) will serve for long and flat rolled stainless steel sectors in Japan, with the exception of cold rolled steel sheet sector. Nippon Steel possesses 80% of NSSC and Sumitomo has 20%. The new company will produce annually 1.1 million tons of 300 and 400-series stainless steel products in sheet, plate, bar, slab, billet and wire rod.