Japan’s fifth largest steel maker Nisshin Steel plans to set up a stainless steel strip processing and distribution JV in Shanghai. The CNY 100 million JV will be financed by Nisshin Steel, Hanwa Co Ltd, Mitsui and relative local investors with a ratio of 3:2:2:3. The new company plans to come on stream at the end of June 2007. The firm will mainly produce home appliance stainless steel.
