Sumitomo Electric Hardmetal Corporation, a cutting tool maker of Sumitomo Electric Industries Group, announced on Friday the firm acquired 75% interests in US tooling product maker, Master Tool, at approximately 800 million yen. Sumitomo Electric Hardmetal targets to grow up the supply power in North American automobile market with advantage of combined tooling product lineup with Master Tool.Master Tool has produced tool holders to attach chipbreakers on and supplied the products to automakers in USA, Mexico and Canada. Sumitomo Electric Hardmetal has supplied chipbreakers, which are made of cemented carbide and cubic boron nitride, to US automakers through Master Tool so far. Sumitomo Electric Hardmetal itself has a thin lineup of tool holders.In other markets out of USA, Sumitomo Electric Hardmetal will sell Master Tool’s products through its sales network mainly in Asia. The firm plans to expand Master Tool’s annual sales to more than 1.5 billion yen in fiscal 2008 ending March 2009 from 600 million yen in fiscal 2006.
Japan Steel Scrap Composite Prices (Sangyo Press)03/26/2020
|20000YEN (-)||22000YEN (-)|
|178.94US$ (0.62)||196.83US$ (0.68)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)