The world's second biggest steelmaker Japan-based Nippon Steel & Sumitomo Metal Corp. (NSSMC) has announced that it has decided to establish a new cold heading wire company named Nippon Steel & Sumikin Cold Heading Wire Indiana Inc. (NSCI) which will manufacture and sell steel wires for cold heading and forging for automobiles in Indiana, US. NSCI will be established through joint investment from Matsubishi Metal Industry Co., Ltd, Nippon Steel & Sumikin Steel Processing Co., Ltd, Miyazaki Seiko Co., Ltd, Sanyu Co., Ltd, Toyota Tsusho Corporation, Nippon Steel & Sumikin Bussan Corporation, Metal One Corporation, and Sumitomo Corporation.
The company stated that it foresees continuous and stable growth of the automobile market in North America, and that in addition to its plants in Thailand and China it has decided to establish this third plant in the US to meet the demand from US-based Japanese automobile and parts manufacturers.