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...
New to just-auto this quarter, this report has been extracted from QUBE and provides a comprehensive overview of the vehicle lightweighting megatrend, the technologies, materials and suppliers involve...
- COMMENT: Why the VW Touareg Hybrid had to die
- COMMENT: ADAS rollout comes with human issues
- THE WEEK THAT WAS: Driving for fun...
- ANALYSIS: Will the XE work for Jaguar?
- ANALYSIS: Autonomous cars and interior design
- Chinese brands have failed to catch on in Brazil
- Marchionne merger overtures to GM's Barra rebuffed
- Volvo China plant starts US exports
- Bosch predicts ICEs will beat EU CO2 targets
- Big Four steadily losing Brazilian market share