INDONESIA: Krakatau and Nippon forge automotive steel partnership
Indonesian state-owned steel company PT Krakatau Steel announced an agreement late last year (2012) to build a new steel plant in partnership with Japan’s Nippon Steel and Sumitomo Metal Corporation.
The joint venture, to be called Krakatau Nippon Steel Sumikin, will produce high grade flat steel mainly for the Indonesian automotive industry which is dominated by Japanese vehicle manufacturers.
The new facility will be built in the sprawling Krakatau Industrial Estate in Cilegon, on the eastern tip of the island of Java.
Krakatau will take a 49% stake in the new venture with Nippon Steel & Sumitomo Metal owning the remaining 51%.
Steel demand by the country’s automotive industry has grown sharply in recent years, with new vehicle sales expected to reach 1.1m units in 2012.
Sectors: Service suppliers/supply chain
This QUBE report from just-auto report provides a comprehensive overview of the global material trends sector, major suppliers, top markets, technology trends and market size forecasts. Use this repor...
- Briefing: Supplier industry financial review
- VEHICLE ANALYSIS: MY2015 Volvo V60 Polestar
- INTERVIEW: Alain Uyttenhoven, Head of Lexus Europe
- THE WEEK THAT WAS: All eyes on Vienna
- VEHICLE ANALYSIS: Volkswagen Polo 1.2 TSI
- INDIA: Datsun horror inspires national crash tests
- Tesla and BMW in battery talks - reports
- Jaguar Land Rover named "most trustworthy OEM"
- 2014 GUANGZHOU SHOW: World premieres list
- UK: Bentley BY716 SUV to be called 'Bentayga'