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Jakarta Post

Nippon Steel sets up joint venture with local firms

  • Linda Yulisman

    The Jakarta Post

Jakarta   /   Fri, November 4 2011   /  09:26 am

Nippon Steel Trading Co., Ltd., the steel-trading arm of Japan’s largest steel maker, Nippon Steel, has set up a joint venture with three local companies to produce steel for the fast-growing automotive industry in Indonesia.

The firm’s president, Tetsuo Imakubo, said on Wednesday evening that his firm would control a 30 percent share of the newly established joint venture, PT IndoJapan Steel Center, while the rest would be held by its partners: automotive parts producer PT Adyawinsa Dinamika (30 percent), steel producer and distributor PT Dwijaya Sentosa Abadi (30 percent) and state-owned steel firm PT Krakatau Steel (10 percent).

“With the establishment of PT IndoJapan Steel Center, we’ll further increase our trading activities in Indonesia,” he said during the joint venture agreement signing ceremony.

Imakubo said that the joint venture would add to its ...