Automotive Steel Joint Venture Established in Mexico
Nippon Steel Corp., Sumitomo Pipe & Tube Co., Sumitomo Corp. and Metal One Corp. established a joint-venture company in Mexico to build a manufacturing and sales base for automotive steel pipes/tubes. The joint venture, Nippon Steel Pipe Mexico, will begin construction of a plant in Silao, in the state of Guanajuato. Production is scheduled to begin in June 2013 with capacity of 2,000 tons/month. The $39 million investment includes electric-resistance welded pipe/tube manufacturing equipment, heat-treatment equipment and cold-drawing equipment.