Japanese steelmaker Nippon Steel & Sumitomo Metal Corporation (NSSMC) has announced that Siam Nippon Steel Pipe Co., Ltd (SNP) and Thai Steel Pipe Industry Company Limited (TSP), its Thailand-based electric-resistance-welded pipe producing subsidiaries, signed an amalgamation agreement in the current month. The new company to be called Nippon Steel & Sumikin Pipe (Thailand) Co., Ltd (NSPCT) will be established in July of the current year.
The new company with a registered capital of THB 1.15 billion ($35.2 million) will operate in manufacturing and sales of electric-resistance-welded pipe, tube, and parts provided for the automotive industry. It will have an annual production capacity of 176,000 mt.