Tokyo based cold finished steel bar processor, Hayashi Seiko and Okaya & Co. announced on Friday they launch cut processing joint venture in Suzhou, China by end of February. The first offshore operation for Hayashi Seiko is to make joint parts of hydraulic pressure hose of construction machinery as the precision process plant in Yamagata. The new plant launches the commercial production in May. The firm targets 100 million yen of annual sales in 2011 and 400 million yen in 2013.
The new plant is process cold finished bar from Hayashi Seiko’s Japanese operation to serve transplants of Japanese users. The plant with 10 numerical control cutting machines, 2 high speed cutters and inspection line makes parts with 20-70 millimeters. The plant starts the operation with 24 employees to make 150 tonnes of products. The plant eyes additional parts making business to serve users in industrial machinery and automobile. Hayashi Seiko controls 60% of the plant with 300 million yen of capital while Okaya & Co. has 20% share and Okaya (Shanghai) has 20% share in the plant. Chinese construction machinery production will exceed 900 billion yuan in 2015 compared with 400 billion yuan in 2010, according to China Construction Machinery Association. Hayashi Seiko tries to follow the growing demand when Japanese users try to expand the local operation. Hayashi Seiko already has cutting process operation in Manila, Philippines while the operation is located in user’s plant. The new plant in China is the first full scale processing offshore operation for the company.Japan Steel Scrap Composite Prices (Sangyo Press)
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