Shinsho Corporation Starts Local Company in India

Shinsho Corporation, Kobe Steel’s trading subsidiary, announced on Thursday the firm upgrades New Delhi office in India to a locally-incorporated company and starts operation on April 1st. Shinsho Corp enhances local base to support Kobe Steel Group’s business expansion activities in India. In India, Nippon Steel recently increased local companies and JFE Shoji Trade Corporation established a coil center. Trading companies of Japanese major steel makers are accelerating and expanding operations in India and other emerging countries.

Shinsho Corp established New Delhi office in December 2009 and carried out marketing activities. The office was upgraded to Kobelco Trading India on March 25th to expand import and export business of steel products, raw materials, nonferrous metal products, machines and welding materials as well as to leverage local sales in India. The capital fund is 45 million rupees, 99% controlled by Shinsho Corp and 1% by Thai Escope, Shinsho Corp’s subsidiary. The new company is operated by 6 staffs (2 of them are Japanese).

Shinsho Corp aims acceleration of global business as a core trading company of Kobe Steel Group. India is regarded as one of the most important markets for Kobe Steel Group. Kobe Steel has advanced steel business cooperation with Indian major steel makers while Kobelco Construction Machinery and Kobelco Crane recently constructed local plants.