Sumitomo Metal Industries and Sumitomo Corporation announced on Friday Huizhou Sumikin Forging, which is crankshaft making joint venture of Sumitomo Metals, Sumitomo Corp. and ThyssenKrupp China, started commercial operation of no.2 forging press line on Thursday. The JV expanded the output capacity from annual 800,000 units to 1.8 million units. Sumitomo Metals tries to expand the output capacity to 8.5 million units including USA and Osaka plants for 10% worldwide market share. Huizhou Sumikin Forging started the operation of no.2 line with annual 1 million units of output capacity 2 months ahead of original schedule. The line can twist crankshaft after forging to make V type crankshaft when automakers increase the use of V type engine. Sumitomo Metals controls 51% of Huizhou Sumikin Forging with 34% share by ThyssenKrupp China and 15% by Sumitomo Corp. The JV started operation in November 2004 after ThyssenKrupp joined the venture. Sumitomo Metals expands the crankshaft output capacity to annual 2.7 million units at International Crankshaft Inc. from current 1.5 million units when the firm starts no.3 line in January 2009. Sumitomo Metals already expanded the output capacity to annual 4 million units at Osaka plant.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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