Mitsubishi and Stelax announce joint venture

Mitsubishi International Corp., a subsidiary of Mitsubishi Corp., and Stelax Industries Ltd, Dallas, Texas, have announced the execution of a letter of intent whereby the parties, subject to final documentation and due diligence, have agreed to become strategic partners. The partnership will entail the development and distribution of the Stelax line of products, known as Nuovinox, produced under the Stelax patented steel-making process. Stelax Industries currently produces these products through its Aberneath facility in the UK. Stelax’s initial lines of products are stainless-steel clad rebar and dowel bars. Over 30 states and two provinces of Canada are utilising the product in bridges and highways. The product has already been installed in six states, two Canadian provinces and in the UK.

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