A new plant which will make steel tubes for cars is being established in the state of Aquascalientes, central Mexico, where Nissan has a long-established factory and is planning a second.
The company will be a subsidiary of Maruichi Steel Tube and its two US trading partners Marubeni-Itochu Steel, a steel trader, and Toyota Tsusho, a trading arm of the Toyota Motor group.
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The new firm, Maruichimex, plans to meet demand for high-quality steel tubes and will be capitalised at about US$10m with 80% put up by the Maruichi group and 10% each by the two trading firms.
It is planned to start production at the end of this year with initial capacity of around 12,000 tons of steel tubes.
