Marubeni Itochu Steel Expands Steel Sheet Business in Emerging Countries

Marubeni Itochu Steel, Japanese major steel business house, expands steel sheet business for electric appliances, containers or building materials in emerging countries. The firm seeks participation in new projects to produce or process steel sheets in Asia or Latin America. Meanwhile, the firm examines investment for local coil centers in India. The firm supports the export of Japanese steel makers and improves local services to steel sheet consumers in emerging countries.

In emerging countries, local zinc coated sheet makers are actively constructing cold rolling mills along steel demand growth. Marubeni Itochu Steel will increase material sheet supply to local steel makers in response to their capacity expansions.

Marubeni Itochu Steel’s iron & steel business II unit operates 12 domestic sites and 15 offshore bases. The unit plans to activate business investment in response to the consumers in fiscal 2010 started in April, though which has reduced investment after financial crisis in 2008. The unit expects to regain the annual profit in fiscal 2010 due to recovery of export and overseas businesses.

Especially in India, demand for high quality steel sheet is expected to increase when Japanese automobile and appliance makers are constructing new factories. Other Japanese large dealers are starting to establish coil centers in India. Marubeni Itochu Steel will strengthen offshore coil centers in Asia, also eying Middle East, Latin America, India and Africa.