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Nippon Steel and China’s Baosteel To Establish Automotive Steel Mill

Resource from:  CBCC Likes:121
Jul 10,2013
Japan’s leading steel manufacturers Nippon Steel and Sumitomo Metal Corp will create a new steel mill to specifically create automotive steel as part of a JV with China’s Baosteel Group Corp. The Nikkei reports that the investment will likely total 30 billion Yen/302.6 million USD, the largest investment in China since September 2012 when wide scale anti-Japanese protests broke out across China over the Diaoyu Islands issue.
(CBCC)
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