Sumitomo Corp and Akiyama Seiko Start Cold Special Steel Bar Plant in Vietnam

Sumitomo Corporation, Japanese major trading house, announced on Tuesday the firm and Akiyama Seiko, Tokyo headed maker of free-cutting special steels, started commercial operation of their co-investing company in Vietnam, Akiyama-SC (Vietnam) Company. The joint company manufactures cold-finished special steel bars in Hanoi, Vietnam. The capital is US$ 8 million (approximately 740 million yen), 60% invested by Akiyama Seiko and the rest by Sumitomo Corp. The plant supplies cold-finished special steel bars mainly for printer shafts and aims annual revenue at US$ 27 million in 2013.

In Hanoi, Japanese printer makers such as Canon and Brother Industries operate their plants as well as related component makers. Akiyama Seiko is the first Japanese cold-finished special steel bar maker to establish a plant in Hanoi. Akiyama-SC (Vietnam) Company is located on 11,890-square-meter site in No.2 Thang Long Industrial Park, Hung Yen, Vietnam.