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Sumitomo Metals and China Steel to Establish Steel Sheet JV in Vietnam
08/25/2008 - Sumitomo Metal Industries and China Steel Corp. conclude a joint-venture contract for the construction of a steel sheet mill in Vietnam.
Sumitomo Metal Industries, Ltd. and China Steel Corp. (CSC) have concluded a joint-venture contract for the construction of a steel sheet mill in Vietnam. The contract follows an extensive study that was initiated at the end of 2007.
The new joint venture—China Steel Sumikin Vietnam Joint Stock Co., or CSVC—will have a full lineup of high-class steel sheet products including automotive products. To support high demand from customers in Vietnam and surrounding countries, the new facility is to have an annual production of 1.6 million tonnes. The partners are aiming to commence operation of the plant at the beginning of 2012.
The new joint venture—China Steel Sumikin Vietnam Joint Stock Co., or CSVC—will have a full lineup of high-class steel sheet products including automotive products. To support high demand from customers in Vietnam and surrounding countries, the new facility is to have an annual production of 1.6 million tonnes. The partners are aiming to commence operation of the plant at the beginning of 2012.
Capital participants in the venture will include China Steel Corp. (51%), Sumitomo Metals (30%), and Sumitomo Corp. (5%), with other investors contributing the remaining 14%.
This project is one of the largest collaborations between Sumitomo Metals and China Steel Group following the establishment of a joint venture for upstream operation at Wakayama Steel Works (East Asia United Steel Corp.) in 2003. Sumitomo Metals and CSC will provide technical support to CSVC to meet growing requirements from customers in Asia in terms of both quantity and quality.
Located in My Xuan A2 Industrial Zone, Ba Ria Vung Tau Province, in The Socialist Republic of Vietnam, the new venture will manufacture and sell hot-cut-sheet, pickling and oiling steel coil, cold rolled coil, electromagnetic steel sheet, and hot-dip galvanized steel sheet. Built at a total investment of approximately 1.15-billion U.S. dollars, the new venture’s facilities will comprise a heavy-gauge shearing line, pickling line, tandem cold rolling mill, continuous galvanizing line, annealing and coating line, and auxiliary lines.
This project is one of the largest collaborations between Sumitomo Metals and China Steel Group following the establishment of a joint venture for upstream operation at Wakayama Steel Works (East Asia United Steel Corp.) in 2003. Sumitomo Metals and CSC will provide technical support to CSVC to meet growing requirements from customers in Asia in terms of both quantity and quality.
Located in My Xuan A2 Industrial Zone, Ba Ria Vung Tau Province, in The Socialist Republic of Vietnam, the new venture will manufacture and sell hot-cut-sheet, pickling and oiling steel coil, cold rolled coil, electromagnetic steel sheet, and hot-dip galvanized steel sheet. Built at a total investment of approximately 1.15-billion U.S. dollars, the new venture’s facilities will comprise a heavy-gauge shearing line, pickling line, tandem cold rolling mill, continuous galvanizing line, annealing and coating line, and auxiliary lines.
Headquartered in Kaohsiung, Taiwan, China Steel Corp. (CSC) produced 10,188,920 tonnes and reported sales of 207.9 billion New Taiwan dollars in 2007.
Sumitomo Metals and CSC initiated their cooperative efforts in 2003 with the establishment of a joint venture for upstream operation at Wakayama Steel Works (East Asia United Steel) in Japan. Cooperative efforts between the two companies were extended in 2007 with CSC Group’s capital participation in Sumitomo Metals' steel service center (Thai Sumilox) in Thailand, and again in 2008 with Sumitomo Metals' capital participation in CSC Group's steel service center (CSGT Metal Vietnam) in Vietnam.
