Japanese steelmaker Kobe Steel has announced that together with Hitachi Metals, IHI Corporation and Kawasaki Heavy Industries (KHI) it has established a joint venture called Japan Aeroforge to manufacture large forgings for use in aircrafts and power plants.
Japan Aeroforge will install Japan's first 50,000 metric ton forging press. The advanced forging press will manufacture large forgings made of titanium, nickel, high alloys and other metals mainly for the aircraft industry, which is growing worldwide.
Construction of Japan Aeroforge's plant will begin in March this year in Kurashiki, Okayama Prefecture in western Japan. The plant is anticipated to be completed in March 2012.
Later this month, Marubeni-Itochu Steel and Sojitz Aerospace Corporation will join the venture. Total investment in the project is anticipated to be JPY 20 billion (about $243 million).