Open / Close Advertisement

Kobe Steel Details Capital Investment Plans for Fiscal 2009

05/19/2009 - Kobe Steel announces plans to invest 118 billion yen on a nonconsolidated basis to upgrade its plant and equipment in fiscal 2009, which ends March 31, 2010.

Kobe Steel, Ltd. recently announced plans to invest 118 billion yen on a nonconsolidated basis to upgrade its plant and equipment in fiscal 2009, which ends March 31, 2010. The company said the anticipated total investment for fiscal 2009 reflects a 38% increase compared with 85.3 billion yen in fiscal 2008.

One of the major projects for the Iron & Steel segment will be refurbishing of power generation boilers at the Kakogawa Works, for which the company will invest 21.0 billion yen in fiscal 2009, part of a 70.0-million-yen investment. Also at the Kakogawa Works, Kobe Steel will invest 15.0 million yen (part of a 17.7-million yen total investment) to install nitrogen-oxide (NOx) removal equipment at the sintering plant.
 
At the Takasago Works, the company plans to invest 20.0 million yen (part of 30.0 million yen total) to install additional casting equipment and a new forging press line to help increase capacity for the production of crankshafts for ships.
 
In its Machinery segment, the company said it will continue construction of a large-capacity compressor testing facility.

In addition to environment-related projects, Kobe Steel said its capital investments are intended to expand "Only One" high-end products and improve its manufacturing capabilities and increase its competitive edge.