Metal One, Japanese steel trading company fifty-fifty owned by Mitsubishi Corporation and Sojitz Corporation, announced on Monday the firm started commercial operation of a steel frame fabricating joint venture in Vietnam, Universal Steel Fabrication Vina-Japan (USF). The JV targets steel frame building market expansion in South Vietnam where economy growth is significantly rapid by integration of Japanese steel frame fabricators’ technologies, know-hows and experiences and Vietnamese steel frame manufacturer’s sales ability.
USF’s capital is US$ 3.13 million (approximately 313 million yen), 30% shared by Takigami Steel Construction, 30% by Mitsuboshi Kogyo, 15% by Metal One and 10% by Marusada Sangyo. Takigami and Mitsuboshi are Japanese steel frame manufacturers and Marusada is Takigami’s affiliate company. LILAMA18 Joint Stock Company holds the rest 15% share, which is a subsidiary of LILAMA, Vietnamese largest and state-owned steel frame fabricator. The 5 companies established USF in Binh Duong Province of South Vietnam in January 2008 and started operation of a steel frame fabricating plant with 6,000-tonne annual capacity. At an opening ceremony on 6 March, about 100 people attended including presidents and executive officers of USF and USF’s 5 shareholders.M | T | W | T | F | S | S |
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