ThyssenKrupp launches Japanese alliance
The automobile industry is set to get a boost from ThyssenKrupp's decision to sign a cooperation agreement with two of the largest Japanese steel producers, NKK and Kawasaki. ThyssenKrupp has commented that the primary purpose of the alliance is specifically to serve the auto industry and that all three firms will cooperate to set up a supply network, plus cooperate in research and development.
Germany's ThyssenKrupp AG, the world's sixth largest steel producer, agreed April 8, to a merger with
Japan's NKK Corp. and Kawasaki Steel Corp. NKK, ranked the world's eighth largest steel producer and Kawasaki, ranked 10th, are scheduled to merge in October of this year.