Nippon Steel to invest in a steel pipe plant in China
Japanese steel producer Nippon Steel Corp (NSC) has announced that it will invest Yen100 million ($912'772) in a steel
pipe plant in Guangzhou region of
China. The plant, which was established as a joint venture company between Sumitomo
Pipe & Tube Co and Sumitomo Corp in November 2003, produces steel pipes for
automotive industry.
NSC officials stated that the aim of the investment is to meet the demand of Japanese automakers in
China.