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| HOME > NEWS RELEASE > 2009 > Investment in Steel Sheet Joint Venture in Vietnam |
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| NEWS RELEASE |
| September 29, 2009 |
| Investment in Steel Sheet Joint Venture in Vietnam |
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Sumikin Bussan Corporation made a 5% investment in steel sheet manufacturer China Steel Sumikin Vietnam Joint Stock Company, a joint venture established by Sumitomo Metal Industries, Ltd., (Headquarters: Osaka; President: Hiroshi Tomono) and China Steel Corporation (Head Office: Taiwan, R.O.C.; Chairman of the Board & CEO: Chia-Juch Chan).
The $1.15 billion joint venture will engage in the manufacture and sale of 1.6 million tons of cold-rolled steel sheet, galvanized steel sheet, electromagnetic steel sheet and other high-grade steel sheet products each year, and is scheduled to begin operations in 2012.
In anticipation of increased demand in Vietnam and surrounding nations, Sumikin Bussan plans to be involved in the sales of high-grade steel sheet products.
Company Overview
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Name |
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China Steel Sumikin Vietnam Joint Stock Company (CSVC) |
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Established |
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May 2009 |
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Location |
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My Xuan A2 Industrial Zone, Ba Ria Vung Tau Province, The Socialist Republic of Vietnam |
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Gross Investment |
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$1.15 billion (approximately ¥155 billion, $1 = ¥100) |
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Equity Participants |
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| China Steel Corporation |
51% |
| Sumitomo Metal Industries, Ltd. |
30% |
| Sumikin Bussan Corporation |
5% |
| Sumitomo Corporation |
5% |
| Others |
9% |
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Business Activities |
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Manufacture and sale of hot-rolled steel sheets, deoxidized steel plates, cold-rolled steel sheets, electrical steel and galvanized steel sheets |
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Production Capacity |
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Approximately 1.6 million tons/year |
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