Marubeni Corp. Expands Steel Plant Business

Marubeni Corporation expanded the steel plant business in fiscal 2006 ended March 2007. The firm got major orders including hot strip mill for JSW Steel of India, electric furnace and blast furnace gas turbine power generator for Taiyuan Iron and Steel of China, dust collector for converter gas for COSIPA of Brazil and power generator by blast furnace top gas pressure for joint venture of Shougang Iron & Steel and Tangshan Iron & Steel. Marubeni focuses on developing countries including China, India, Brazil and Turkey and expands the business through the offices in Shanghai, Delhi, Sao Paulo, Istanbul and North America. The firm tries to get order with technical support by Nippon Steel Engineering, Steel Plantech, Mitsubishi-Hitachi Metals Machinery and Mitsui Engineering & Shipbuilding. Marubeni expects the offshore demand is still strong but the firm couldn’t get many order due to limited reserve capacity for Japanese major plant makers due to higher capital expenditure by Japanese steel makers. Marubeni tries to meet aggressive demand by steel makers in developing countries in long term basis.