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Sumitomo Metals Invests in New Steel Plate Mill in Thailand
10/28/2010 - Sumitomo Metal Industries, Ltd. has decided to take part in the Canadoil Group’s steel plate mill business in Thailand by investing in the Group, which is currently constructing a new steel plate mill in the country, and by providing technical assistance to the mill scheduled to be operational in 2013.
Sumitomo Metal Industries, Ltd. has decided to take part in the Canadoil Group’s steel plate mill business in Thailand by investing in the Group, which is currently constructing a new steel plate mill in the country, and providing technical assistance to the mill.
The new plate mill is scheduled to be operational in 2013 with an annual capacity of around 1.2 million tonnes. Total investment is approximately US$600 million.
Sumitomo Metals has invested US$50 million into the Canadoil Group’s holding company. With this investment, Sumitomo Metals will acquire the capacity to manufacture around 300,000 tonnes annually from 2013.
Sumitomo Metals plans to manufacture high-grade steel plates in the new mill and use the Kashima mill capacity to manufacture more value-added, high-grade steel plates. By assigning each mill a specialty in locality-oriented and different product types, Sumitomo Metals expects to realize a more efficient manufacturing system.
The Canadoil Group, established in 1960s, is one of the world’s largest suppliers of piping solutions. Sumitomo Metals has been in a business relationship with the Canadoil Group, a valued customer of its pipes and steel plates, since the 1970s.
