Nippon Steel Joint Venture and will WISCO parity

A joint venture of Japanese steel producer "Nippon Steel Corp." with the Chinese company "Wuhan Iron & Steel Co." will be established on the basis of equal distribution of shares 50/50. Reported by the Japanese edition of Japan Today. According to him, the new company will be named "Wisco-Nippon Steel Tinplate Co." and will specialize in the production of tin sheets for the food industry. In this case, by 2013 production capacity of the joint venture, created in the Chinese province of Hubei, should reach 200 thousand tons per year. Previously reported that Wuhan Iron & Steel and Nippon Steel have agreed to cooperate. The Parties agreed to establish a joint venture for the production of tinplate. The investment amounted to 277 million dollars The company "Wuhan Iron and Steel Corp" is the third largest steel producer in China. It is engaged in production of hot-rolled and cold-rolled steel, steel slabs and galvanized steel. "Nippon Steel Corp." considered the largest in Japan and the world's second largest steel company. Ministry of Industry