Tokyo Steel, Junma to make steelcord in China — report

A report in yesterday’s (March 31) Nikkei says that Tokyo Steel Manufacturing Co.and Junma Chemical Fibers Co., of China have agreed to build a 50:50 joint venture factory to make steelcord for car tyres in China. The report says the factory will have capacity for 35 000 tonnes per year–enough for 20 million tyres–and be onstream by December 2004. The total investment will be around Â¥7000 million (€55 million). The plant is located, said the Nikkei, adjacent to JunMa’s existing factory.

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