Fortune-500 Japanese Enterprises Join in SIP
Automotive Industry Chain
Jointly invested by seven Japanese companies at the amount of 1.5 million US dollars, Nippon Steel Bar & CH Wire (China) Co., Ltd. obtained business license at SIP on Sept. 27. The Joint venture will mainly produce 7,000 tons of CH wires and steel bars annually for automotive industry, and the production capacity is planned to double in the next few years.
The ever-expanding investment by Japanese automobile manufacturers in China has opened up unlimited business and market opportunities for automotive enterprises in Japan, and manufacturing of products, previously relying on import from Japan, will be shifted to China. It is in such circumstances that the new company is incorporated in SIP. Of the seven shareholders of the newly established steel bar and CH wire company, 3 belong to Fortune-500 enterprises. The investing companies will bring to the new establishment their respective new concepts in management, technologies, training, and equipment, war materials, component parts, customs clearance, and logistics operation. The entry of the company will play a positive role in improving the automotive industrial chain and the raising the overall technological level of auto industry in SIP.
Sept. 29, 2006