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Color-Coated Steel Sheet Manufacturing Operations Established in Hanoi, Vietnam
11/01/2011 - Nippon Steel & Sumikin Coated Sheet Corp. and Marubeni-Itochu Steel Inc., along with two local Vietnamese partners, have formed a joint venture for the production of color-coated steel sheets in Vietnam: Fujiton Color Coating Steel Joint Stock Co.
Nippon Steel & Sumikin Coated Sheet Corp. and Marubeni-Itochu Steel Inc., along with two local Vietnamese partners, Vietrust Technological Investment and Development Joint Stock Co. (Tonmat) and Thanh Dat Steel Joint Stock Co., have formed a joint venture for the production of color-coated steel sheets in Vietnam: Fujiton Color Coating Steel Joint Stock Co.
The establishment of this new company and the location of it in the Hanoi Metropolitan Area are due to an increasing demand for residential roofing materials and a growing commercial construction industry due to the continued expansion of foreign companies. Nippon Steel & Sumikin Coated Sheet Corp. is moving its inactive color-coated steel sheet production line from Nishi-Nihon Works Amagasaki to Vietnam.
The joint venture brings together the largest manufacturer of color-coated steel sandwich panels used in construction applications (Tonmat) and one of the four largest wholesale companies in Northern Vietnam currently selling color-coated steel sheets (Thanh Dat).
Capital structure of the new joint venture is Tonmat 40.0%, Nippon Steel & Sumikin Coated Sheet Corp. 25.0%, Marubeni-Itochu Steel Inc. 25.0%, and Thanh Dat 10.0%.
Production capacity is planned at 60,000 tonnes per year. The groundbreaking occurred in October; commercial operations are expected in June 2012.
