Nippon Steel & Sumitomo Metal Corporation (NSSMC), together with Mitsubishi Steel Mfg. Co., Ltd. (MSM), established Mitsubishi Steel Muroran Inc. (MSR) in 1992 and has jointly operated it as a joint venture manufacturing specialty steel in Muroran, Hokkaido. With respect to this joint venture, NSSMC has recently reached an agreement with MSM that NSSMC and MSM will change and enhance the joint venture with the aim of further optimizing their respective manufacturing structures in Muroran, Hokkaido. Details are as follows: Enhancement of the joint venture: NSSMC to increase volume in outsourced manufacturing of steel billets to MSR; Establishment of organization in MSR and technology transfer from NSSMC to MSR, to secure the quality of steel billets that NSSMC will outsource to manufacture to MSR; and NSSMC to increase its shareholding ratio in MSR from 20% to 30%. Planned schedule: October 2017(plan)-NSSMC to increase its shareholding ratio in MSR, After October 2017(in stages)-
Establishment of organization and technology transfer to secure the quality of steel billets. NSSMC to increase volume in outsourced manufacturing of steel billets.