Wednesday, September 4, 2013
Nippon Steel, Toho Titanium To Form Titanium Venture
TOKYO (NQN)--Nippon Steel & Sumitomo Metal Corp. (5401) announced Wednesday it will form a joint venture with Toho Titanium Co. (5727) in the titanium materials melting business.
The companies expect domestic and overseas demand for titanium alloy for aerospace use to increase. Nippon Steel will have a 66% interest, while Toho Titanium will own the remainder. The new company is scheduled to launch operations on April 1, 2014.
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