Japanese Steelmakers Eye Consolidation

Tuesday, February 06, 2001
Japan's second-largest steelmaker, NKK Corp agreed with two other Japanese firms to consider future integration of their steel plant operations in a bid to combat severe competition. The alliance with heavy electric machinery maker Sumitomo Heavy Industries Ltd. and heavy machinery maker Hitachi Zosen Corp. was prompted partly by the emergence of giant overseas rivals, the three companies said. As the first step of the alliance, the companies will set up a joint venture in March, capitalized at $1.74 million, for sales of a variety of heavy machines used in the steel-making process to the domestic and overseas markets. The new company, which plans to launch operations in April, will be owned 34 percent by NKK, 33 percent by Sumitomo Heavy and 33 percent by Hitachi Zosen. NKK Corp said last month it was in talks with German steel and engineering giant ThyssenKrupp AG to broaden their alliance in the face of a growing number of tie-ups in the steel industry worldwide. Japan's industry leader, Nippon Steel Corp, announced last month it had agreed with French steel group Usinor to cooperate in certain key business areas in a bid to extend their geographic reach and cut costs. - (Reuters)
Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Henderson, Hanes & Associates Opens Doors in Miami

Ocean Engineering/ Naval Architecture Firm Brings Innovation to the Mega Yacht Community The Miami-based ocean engineering and naval architecture firm of Henderson & Associates, Inc.

DOF Installer Sells Offshore Vessel

DOF Subsea AS subsidiary, DOF Installer ASA, reported the sale of one of its three sister ships, an anchor handling tug supply (AHTS) vessel, to an international buyer.

Scanjet Secures 30-ship Tank Management Order

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

Shipbuilding

Henderson, Hanes & Associates Opens Doors in Miami

Ocean Engineering/ Naval Architecture Firm Brings Innovation to the Mega Yacht Community The Miami-based ocean engineering and naval architecture firm of Henderson & Associates, Inc.

Austal Launches Trenton (JHSV 5)

Second Joint High Speed Vessel to be launched at Austal in 2014 On September 30, 2014, Austal USA successfully completed the launch process of Trenton (JHSV

Going Big for Sustainability

Orkot Marine Bearings, developed and manufactured by Trelleborg Sealing Solutions, contribute to the build of the world’s largest and most efficient containerships,

 
 
Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 1.9319 sec (1 req/sec)