Maruichi Steel Tube announced on Monday the firm establishes a steel tube company for automobiles in Mexico, named MARUICHIMEX, jointly operated with Marubeni Itochu Steel and Toyota Tsusho Corporation. The plant construction starts soon toward the operation commencement at the yearend of 2012. Maruichi Steel Tube enhances steel tube supply in North America and supports Japanese automakers in local operations along the company’s mid-term strategy to strengthen overseas businesses.
MARUICHIMEX’s capital fund is US$ 10 million, 60% controlled by Maruichi American Corporation, 20% by MKK USA, the subsidiary of Maruichi Steel Tube, and each 10% by Marubeni Itochu and Toyota Tsusho Corp. The production capacity will be 12,000 tonnes per year in the first phase and 24,000 tonnes per year in the second phase. Japanese and overseas car makers have accelerated local productions in Mexico to cover North and South Americas market. Among Japanese automakers, Nissan Motor has opened its local plant early and actively expanded the output. Matsuda Motor and Honda Motor also decided new plant constructions. Many Japanese automotive component makers operate local factories especially in Aguascalientes province, Mexico. Steel tube orders have increased. MARUICHIMEX is headed in Sun Francisco industrial estate in Aguascalientes Province. The factory building with approximately 6,000-square-meter floor space will be constructed on the site of 30,000 square meters. The plant is scheduled to commence operation at the yearend of 2012 with about 20 employees. The joint company eyes the product supply to surrounding countries in future.Japan Steel Scrap Composite Prices (Sangyo Press)
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