Sumitomo Pipe to construct pipe making jv with Sumitomo Corp
Recent market reports state that Sumitomo
Pipe&Tube and Sumitomo Corporation, affiliates of
Japan's fourth largest steel company Sumitomo Metal, decided to construct a
pipe making joint venture in
China with a total capital investment of Yen 880 million.
This joint venture will establish a high frequency electric resistance welding
pipe rolling mill to supply carbon and
stainless pipe especially for exhaust system of automobiles with dia. 25.4-63.5 mm. and 0.8-3.5 mm in thickness. Plant will have a
production capacity of 1'500 tons per month and is scheduled to operate next year in autumn.
60% of joint venture will be owned by Sumitomo
Pipe&Tube and 40% by Sumitomo Corp.