Nippon Steel, Sumitomo Metals, Kobelco To Forge Stronger Alliance

摘要

Nippon Steel Corp (NSC), Sumitomo Metal Industries, Ltd (Sumitomo Metals) and Kobe Steel Ltd (Kobelco) announced that they have agreed to strengthen and expand the current tripartite alliance to the following effect: [Three allied parties to expand joint use of iron- and steel-making facilities at Sumitomo Metals' Wakayama Steel Works as a source of steel slabs for processing into high grade steel] Sumitomo Metals has decided on basic policies relating to the construction of a new No. 2 Blast Furnace (BF) at its Wakayama Steel Works, with a view to bringing the new furnace on stream in the second half of the fiscal year ending March 31, 2013. This project involves renewal of the current No. 5 BF (to be renamed new No. 2 BF), as well as expansion of steel-making facilities among others measures. It follows the Company's decision to build a new No. 1 BF (renewal and renaming of the current No. 4 BF) at Wakayama Steel Works, which is scheduled to come on stream in June 2009.