Nippon Steel, Nakayama creating joint venture to run bar, rod plant

Dec 28, 2004 | 06:01 AM | Russ McCulloch

Nippon Steel Corp. and Nakayama Steel Works Ltd. have agreed to form a joint venture to own and operate the bar and wire rod facilities at Nakayama's Funamachi Works near Osaka, Japan.

The deal, to be formalized in 2005, will give Nippon Steel a coveted production base for these items in western Japan while helping Nakayama lift its overall operations and secure a cash injection of 1.7 billion yen ($16.5 million).....

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