You are here: Home > Steel News > Latest Steel News > Kobe...

Kobe Steel agrees on JV to produce wire rod in Thailand

Wednesday, 03 February 2016 12:07:10 (GMT+3)   |   Istanbul
       
Japanese steelmaker Kobe Steel has announced that it has agreed with Thailand-based Millcon Steel Public Company Ltd to establish a joint venture called Kobelco Millcon Steel Co., Ltd (or KMS). The two companies will sign a formal agreement in the near future and establish the joint venture later this month. Kobe Steel and Millcon signed a memorandum of understanding (MOU) in June last year to jointly consider a joint venture to produce and sell steel wire rods in Thailand.
 
In 2014, Millcon Steel acquired the assets of Thai Special Steel Industry Public Company Limited (or TSSI) and set up Millcon Special Steel Company Limited (MMS) to hold the assets. Kobe Steel and Millcon Steel have now decided to convert MMS into a joint venture by Kobe Steel's equity participation. With Kobe Steel’s participation, equipment will be installed and preparations will be made for the production of special steel wire rods, since automobile production in Thailand and in ASEAN countries is expected to experience strong growth, and therefore wire rod demand is also anticipated to increase. Production of special steel wire rods is anticipated to begin in May 2017.

Similar articles

US import long steel markets creep higher ahead of expected slow US Thanksgiving holiday week

21 Nov | Longs and Billet

US domestic rebar pricing up slightly while wire rod remains steady on week 

21 Nov | Longs and Billet

Longs prices in Romania increase, some interest in ex-Egypt material

21 Nov | Longs and Billet

Asian wire rod prices edge down further despite rises in Chinese futures prices

21 Nov | Longs and Billet

Southern European longs market stable, shutdowns expected

21 Nov | Longs and Billet

Wire rod consumption in Mexico down 10.9 percent in September

21 Nov | Steel News

Japanese crude steel output up 4.6 percent in October from September

21 Nov | Steel News

Turkish mills cut their longs prices once again, prices seem very close to bottom

20 Nov | Longs and Billet

S. Korea’s POSCO shuts down its wire rod mill at Pohang after 45 years

20 Nov | Steel News

Turkey’s Kardemir opens its rebar sales   

20 Nov | Longs and Billet