Tokyo Rope MFG.’s steel tire cord making subsidiary, Tokyo Rope Changzhou started the operation after the opening ceremony on Thursday. The plant will pump up the operation to the first phase full capacity of monthly 1,500 tonnes by the end of 2007 after sample shipment and the users’ approval. The plant will increase the capacity to 3,000 tonnes just after the plant confirms stable operation at monthly 1,500 tonnes. The president Shigeto Tanaka said the firm decided to build plant in Changzhou due to support by the development area and the city government and favorable transport network to Chinese cities and Southeast Asia through truck on the highway, ship on Yangtze River and railroad. He said the firm tries to meet users’ quality needs by transferring equipment, technology and management from the Iwate based subsidiary, Tokyo Steel Cord. He also said the local plant will establish sustainable business model with higher compliance, safety and environmental actions along with the strong manufacturing base. Tokyo Rope MFG. controls 52% of the Chinese plant with 6.065 billion yen of capital with 40% share by Nippon Steel and 8% by Metal One. Nippon Steel provides the materials of high valued wire rod for the plant through Metal One.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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