Daido Steel Co. Ltd. will ramp up vacuum arc melting and recycling equipment to further increase the production of high-grade steel such as nickel-based alloys and clean stainless steel.
The company expects demand for those products to expand in the future, so vacuum arc recycling (VAR) furnaces will be added to its Chita No. 2 Plant near Nagoya, Japan.
Daido will invest 5.2 billion yen (USD 39.8M) in the project, which is expected to begin operating by the end of its fiscal year 2024.
The company currently operates one VAR unit and a 25-ton vacuum induction furnace (VIM) at its Shibukawa Plant northwest of Tokyo.
