Nippon Metal Industry to Accelerate Offshore Growth

Nippon Metal Industry eyes output expansion at overseas plants and low nickel, high value-added stainless steel sales increase in Asia in fiscal 2011 ending in March 2012. The president Hiroshi Yoshimura said at fiscal 2010 results briefing on Thursday the firm tries to accelerate offshore growth strategy. The firm will increase export rate of sales from 40% while the firm tries to develop new users in domestic market.

Nippon Metal Industry tires to increase precision stainless steel strip and foil export from Taiwanese joint venture for China when lower tariff encourages the export from Taiwan under Economic Cooperation Framework Agreement between Taiwan and China. The firm studies potential stainless pipe processing at Malaysian joint venture to export for Japan and overseas market.

Nippon Metal Industry aims to increase sales of nickel-free U series, low nickel stainless steel D series and spring stainless steel S series. The firm tries to develop 1% nickel spring material to meet demand from offshore transplant of Japanese companies.

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