Executives, government officials and customers were on hand to ceremonially inaugurate the joint venture plant, which processes wire rod into cold-heading quality wire for use as nuts and bolts and cold-forging products for Mexican auto parts manufacturers.

The plant is designed to produce 40,000 tons annually and is equipped with five wire drawing lines, an automatic pickling and coating line and two heat treatment lines. Kobelco is a joint venture of Shinsho Corp., Kobe Steel Ltd., Grupo Simec S.A.B. de C.V., Metal One and two other companies.

“(Kobelco CH) places its full efforts into manufacturing high-quality products and provides the highest service to customers,” said Shinsho president and chief executive Ikuhiro Yamaguchi in a statement.

“As a member of the city of Silao and the state of Guanajuato, (Kobeleco CH) aims to do its utmost to support and contribute to the development of this region,” he said.