Hitachi Metals announced on Tuesday the firm enters into alliance with Taiwanese special steel maker, Gloria Material Technology. Hitachi Metals purchases around 5% share in Gloria Material Technology after shareholders meeting of the Taiwanese maker on June 22. Hitachi Metals tries to develop global market through the first alliance with offshore special steel maker.
They expect synergy by combining high grade products and technology of Hitachi Metals and offshore sales network and cost competitiveness of Gloria Material Technology. They try to develop jointly emerging countries with rapid growing special steel demand. Gloria Material Technology was established in April 1993. The firm makes stainless, high speed steel, tool steel and titanium alloy to serve airplane and energy plants. The annual sales were 12.827 billion New Taiwan Dollar in fiscal 2011.Japan Steel Scrap Composite Prices (Sangyo Press)
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