Kobe Steel Strengthens Screw Compressor Business in U.S.

Kobe Steel announced on Tuesday the firm strengthens the business of screw compressor for special purposes in the U.S.A. The firm increased the investment ratio for Engineering Designs Transfer, an assembling company of screw compressor in California, to 92.5% from 50% in February. Engineering Designs Transfer became to the first consolidated subsidiary in the U.S.A. for Kobe Steel in compressor business field and the subsidiary changed the company’s name to “Kobelco EDTI Compressors (KEC).”Kobe Steel also aims to build the 2nd factory in the U.S.A. and to expand the assembling capacity of screw compressor by 2.5 times within fiscal 2006 from the present with US$ 4.6 million of investment. The firm plans to meet increasing demand of screw compressor in the U.S. market thanks to active establishment of new plants for natural gas power generation, oil refining and gas separation. Kobe Steel aims to double the order reception to US$ 60 million in North American market including Canada and Mexico in 2007 and to increase the consolidated sales in U.S. market from US$ 26 million in 2005 to US$ 64 million in 2008.