Sumitomo Metal Industries announced on Thursday that Zirco Products, a joint venture company between Sumitomo Metals and Kobe Special Tube, agreed with CEZUS of France in CEZUS’s equity participation in Zirco.
Zirco is the top supplier of zirconium cladding tube for nuclear reactors with about 70% market share in Japan. CEZUS is the world largest maker of mother tube for zirconium cladding tube. Zirco’s capital is 450 million yen, fifty-fifty invested by Sumitomo Metals and Kobe Special Tube. CEZUS acquired 33.3% equity on September 10 equally from Sumitomo Metals and Kobe Special Tube. CEZUS sends 2 part-time directors to Zirco. Zirconium cladding tube is made of zirconium alloy (zircaloy). The tubes are used in reactor core of nuclear power plants. Enriched uranium in pellet form is stacked inside tubes to form a fuel rod. Fuel rods are grouped and called fuel assemblies. Zirco aims to establish steady supply system of zirconium cladding tube to build strong business base and accelerate its growth strategy. CEZUS holds 60% share in the global market.Japan Steel Scrap Composite Prices (Sangyo Press)
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