PT Krakatau Nippon Steel Sumikin to Build New Galvanizing, Annealing and Processing Line in Indonesia
08/11/2014 - Nippon Steel & Sumitomo Metal Corporation (NSSMC) and PT Krakatau Steel (Persero) Tbk (PTKS) executed on 11 August 2014 a definitive agreement concerning their joint venture, PT KRAKATAU NIPPON STEEL SUMIKIN (KNSS).
KNSS was established in the Republic of Indonesia in December 2012 for the manufacture and sale of automotive flat steel products, and NSSMC and PTKS had been discussing the detailed terms and conditions of their joint venture since then.
The Indonesian automotive market is expected to grow further in the future and it is expected that automakers’ needs for anti-corrosion steel and high-strength steel will also grow. KNSS will build a galvanizing, annealing and processing line (GAPL) which is a manufacturing line integrating the functions of both continuous annealing line and continuous galvanizing line. GAPL is equivalent to the state-of-the-art equipment now in operation at NSSMC’s steelworks, and which is capable of producing high-grade, high-quality cold-rolled, hot-dip galvanized, and galvannealed steel sheets, including steel sheets for automotive outer panels and high-strength steel. With this new line, KNSS will adapt their business to capture the precise needs of automakers.
NSSMC and PTKS intend to contribute to the further development of the Indonesian automotive industry through KNSS.
The Indonesian automotive market is expected to grow further in the future and it is expected that automakers’ needs for anti-corrosion steel and high-strength steel will also grow. KNSS will build a galvanizing, annealing and processing line (GAPL) which is a manufacturing line integrating the functions of both continuous annealing line and continuous galvanizing line. GAPL is equivalent to the state-of-the-art equipment now in operation at NSSMC’s steelworks, and which is capable of producing high-grade, high-quality cold-rolled, hot-dip galvanized, and galvannealed steel sheets, including steel sheets for automotive outer panels and high-strength steel. With this new line, KNSS will adapt their business to capture the precise needs of automakers.
NSSMC and PTKS intend to contribute to the further development of the Indonesian automotive industry through KNSS.
