Mitsubishi Corp Aims Steel Plant Order of 150BY in F2007

Mitsubishi Corporation aims to expand its order reception of steel making plants to 150 billion yen in fiscal 2007 started April. The order value was 100 billion yen in fiscal 2006 which was almost same level from fiscal 2005.Mitsubishi Corp only remained the metal plant business among Japanese tading houses from late 1990s to early 2000s when world the world steel demand maintained low and steel makers reduced their investment.Mitsubishi Corp’s order reception for steel plant unit was about 100 billion yen in fiscal 2006, over 40 billion yen from domestic customers and the rest from overseas. In fiscal 2007, the firm plans to expand the order reception by 50% from fiscal 2006. The firm accepted an order for a converter and a steel making plant from Hyundai Steel in South Korea and will start the next negotiation for hot rolling mill with Hyundai Steel.World steel makers are aggressively investing when steel demand entered the growing phase. Mitsubishi Corp strengthens the plant business in China, South Korea, North and South America, Europe, Russia and India with Japanese engineering makers, Steel Plantech, Nippon Steel Engineering and Mitsubishi-Hitachi Metals Machinery.