Nisshin Steel to Build Stainless Coil Center in Shanghai

Nisshin Steel announced on Wednesday the firm, Hanwa Co. and Mitsui & Co. will build new stainless coil center in Shanghai, China to start the operation in June. They build the center with 60,000 tonnes of annual processing capacity for 190 million yuan. They try to increase the sales of materials from the stainless cold rolling joint venture with Baoshan Iron and Steel, Ningbo Baoxin Stainless Steel. They builds center named Ri Hong Stainless (Shanghai) with 95 million yuan of capital. The center with a slitter, a leveler and a small leveler will process stainless coil and sheet in Shanghai. Nisshin Steel tries to expand the offshore business under the 3-year plan to fiscal 2008 ending March 2009. The firm will expand the business in China through the new center and sales force in Shanghai, which the firm established in December.