|  | 13/07/2004 |
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Japanese Steel Wheel Maker Makes Inroads into Chinese Market
Ringtechs, the steel wheel maker of the Sumitomo Metal's subsidiary, and Metal One, announced on Monday that they decided to establish the joint corporation of the steel wheel manufacture and selling enterprise in China. They will invest at 1.6 billion yen and build the factory of production of annual 2.50-million-tonne-scale in Guanzhou Guangdong Province, which starts operation from the beginning of 2006.
Ringtechs establishes the high quality supply attitude of the steel wheel in Japan, USA, Europe, and China, and responds to the global part supply needs of Japanese automobile makers.
The joint corporation mainly supplies the steel wheel for passenger cars for Japanese automakers and imports the raw material (acid-pickled steel sheet of Sumitomo Metal) and metallic mold from Japan for the time being, and the corporation expects the full operation in 5-6 years after the start of production. The performance target is 1 billion yen per year in 2007 and above 2 billion yen in 2009.
Ringtechs is 100% subsidiary of Sumitomo Metal and produces 9 million production (domestic market share at about 30%) of the steel wheel for passenger cars per year in 3 plants of Okayama, Gunma, and Hiroshima; the annual sales are 9 billion yen.
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 | Japanese Steel Wheel Maker Makes Inroads into Chinese Market
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