Nippon Steel Trading wraps up Hanoi coil center deal

Nippon Steel Trading wraps up Hanoi coil center deal

Nippon Steel Trading recently announced that it would build a coil center in Hanoi, Vietnam. The coil center, which will be the second in Vietnam, is scheduled to operational in June 2006 and will be known as NS Hanoi Steel Service Company. It will supply high-grade steel sheet and provide processing services for various manufacturers from Japan, Taiwan, and China. Its annual production capacity will be 48'000 tons. Nippon Steel Trading, which will hold a 90 stake in NS Hanoi Steel Service Company, plans to invest Yen 500 million ($4.5 million) in the coil center. The remaining 10 percent stake will belong to Nippon Steel.