Maruichi Steel Tube Ties up with Toyo Superior Steel Tube

Maruichi Steel Tube announced on Friday the firm enters into alliance with Osaka based steel pipe reroller, Toyo Superior Steel Tube Works and participates in Toyo Superior Steel Tube making the firm into affiliate by the end of July. Maruichi Steel Tube’s subsidiary, Maruichi Investment accepts all of new shares of Toyo Superior Steel Tube at 12,000 yen per share and has 33.4% in the firm. Maruichi Steel Tube tries to expand the group business and to improve technology and size variation though the capital and business alliance. Toyo Superior Steel Tube tries to improve the stable materials procurement and marketing. Toyo Superior Steel Tube established in November 1961 has cold roll forming plant in Nara to produce square pipe and deformed pipe. The firm has wholly owned subsidiary in Qinhuangdao of China and near 50% interest in steel pipe maker in Shenyang of China.