Nippon Steel and Topy Industries Expand Alliance

Nippon Steel and Topy Industries announced on Tuesday they agreed in enhancement of their alliance cooperation for more competitive power and improvement of company values. They advance additional measures to follow international competition or fluctuation of steel demand. Nippon Steel increases the capital investment to Topy Industry to 20% from current 7.51%. They introduce a new electric furnace to Topy Industry, enhance competitive power of shaped-steel by Topy industries’ production technology for deformed shaped steel production, and go over for dust recycle of electric furnaces. Topy increases crude steel production capacity by 720,000 tonnes to 1.56 million tonnes per year in 2012 by renewal of the electric furnace and increases continuous casting equipment. Nippon Steel is supplying billet for deformed steel bar to Topy at about 300,000 tonnes per year. The firm will stop the supply after starting of Topy’s new equipment. Topy will supply semi-finished products to Nippon Steel. They will develop Topy’s steel wheel and Nippon Steel’s high tension steel sheet with concerted efforts. Nippon Steel supplies special steel bar for components of construction machineries, and H-beam and plate for bridges to Topy. They will get shaped steel market in Asia hand in hand.