Nisshin Steel establishes a new company in US
According to recent news in the market,
Japan steel producer Nisshin Steel has announced that it will establish a new company in Kentucky, US, which will produce
stainless steel pipes for automobiles.
The new company Nisshin
Automotive Tubing LLC (NAT) will be capitalized at $5 million. Nisshin Steel's wholly owned US subsidiary Nisshin Holding will possess %75, the Toyota Tsusho Corp 10%, Toyota Tsusho America Inc 10% and Marubeni-Itochu Steel America 5% stake in the new company.
NAT is expected to start operations in July 2005.