Mitsui and ArcelorMittal Gonvarri Brasil JV Begins Commercial Operations
09/05/2014 - Mitsui & Co. Ltd. announced the commencement of commercial operations at its steel service center, MAG Aliança Automóveis do Brasil SSC S.A.(MAG), for processing and supplying steel products mainly to the automotive industry.
The company was jointly established with ArcelorMittal Gonvarri Brasil S.A.(AMG), through Mitsui & Co. (U.S.A.) Inc., and is located within Nissan Brazil's Supplier Park in Resende, Rio de Janeiro, Brazil, where Nissan has been producing vehicles since February 2014. MAG's annual processing capacity is 160,000 tons.
Brazil has firmly established itself as one of the major global automotive manufacturing countries and has a 60% share of the South American market. Domestic vehicle sales in Brazil are expected to reach 5 million in 2017, making it the world's third largest market. The Brazilian government actively promotes the development of the domestic automotive industry, and as a result the nation's automotive steel processing demand is expected to grow in the mid to long-term.
AMG is a joint venture between ArcelorMittal, the world's leading steel company, and Gonvarri Steel Industries, which has 30 steel service centers in 15 countries. AMG operates two steel service centers in Brazil and possesses a great wealth of experience in the Brazilian market.
Mitsui also has a substantial track record and abundant expertise in the operation of steel service centers globally, and it aims to create a value chain from steel processing to parts production in its joint partnership with AMG.
Brazil has firmly established itself as one of the major global automotive manufacturing countries and has a 60% share of the South American market. Domestic vehicle sales in Brazil are expected to reach 5 million in 2017, making it the world's third largest market. The Brazilian government actively promotes the development of the domestic automotive industry, and as a result the nation's automotive steel processing demand is expected to grow in the mid to long-term.
AMG is a joint venture between ArcelorMittal, the world's leading steel company, and Gonvarri Steel Industries, which has 30 steel service centers in 15 countries. AMG operates two steel service centers in Brazil and possesses a great wealth of experience in the Brazilian market.
Mitsui also has a substantial track record and abundant expertise in the operation of steel service centers globally, and it aims to create a value chain from steel processing to parts production in its joint partnership with AMG.
