Sumitomo Metal Industries’ trading equity method affiliate, Sumikin Bussan announced on Wednesday the firm starts press steel processing in India for 800 million yen to serve local automobile and electronics industry. The firm established wholly-owned company in Neemrana, Rajasthan of India. Sumikin Bussan’s first offshore press processing site starts the operation with four 300 tonne press machines, slitter and leveler in April 2012. The subsidiary eyes around 4 billion yen of sales in 2015.
Sumikin Bussan opened Jakarta office in May and plans to add new plant to Thai coil center. In Vietnam, the firm acquire share in a steel coil center of China Steel group of Taiwan. Sumikin Bussan will continue investment in emerging countries to increase the business.Japan Steel Scrap Composite Prices (Sangyo Press)
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