Sanyo Special Steel announced on Monday the firm reorganized Indian office into local sales subsidiary. The subsidiary started researching local steel information in India and neighboring countries on Sunday. The subsidiary with 33 million yen of capital is located in Gurgaon of Haryana.
Sanyo Special Steel opened the Indian office in May 2011 to research local market and incorporated the office into local subsidiary in January. Sanyo Special Steel seeks potential expansion of high grade special steel sales in India when special steel demand is increasing for automobile, construction machinery, industrial machinery and railway. The firm, Mitsui & Co. and Mahindra group’s special steel making company, Mahindra Ugine Steel agreed on special steel making joint venture in India in November 2011. The joint venture is under review process by Indian authority.Japan Steel Scrap Composite Prices (Sangyo Press)
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