Integrated welding

Japan’s Nippon Steel Corp. and Sumitomo Metal Industries Ltd have agreed to integrate their welding-materials operations by forming a new company next year. Under the agreement, the two firms will spin off their welding-materials operations from their respective group firms and integrate such operations in the new joint company, the two companies said. The Nippon Steel side will own more than 50% of the new firm, according to company sources. The new company will account for some 30% of Japan’s domestic welding-materials market, making it the second largest after Kobe Steel Ltd, which has a 40% market share. Nippon Steel Co. and Sumitomo Metal Industries already have business ties in stainless steel and building materials and are expected to strengthen such ties.

Previous articleAbu Dhabi power and water project
Next articlePolish power contract
Stainless Steel World is part of The KCI Media Group, a group of companies focused on building and sustaining global communities in the flow control industries. We publish news on a daily basis and connect business-to-business professionals through our online communities, publications, conferences and exhibitions.