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The remote center of JFE operates a remote control system and manages it for 24 hours.
The new joint venture plans to maximize customer satisfaction by leveraging the manufacturing technology and quality-control know-how of JFE Steel and the overseas networks of JFE Shoji, MISI and Hanwa.
Nucor Corporation (NYSE: NUE), a company that produces steel products, with operating facilities primarily in the United States and Canada, is forming a 50-50 joint venture with JFE Steel Corporation of Japan.
In addition to these orders, JFE Engineering subcontracts the fabrication work which it receives from countries other than Myanmar to J&M Steel Solutions, and as a result the companyAEs order backlog already amounts to as much as 7,000 tons (weight of steel).
Reuters could not immediately reach JFE and US Steel for comments.
A senior executive of the JFE subsidiary pointed out that the partnership will allow the two to aggressively tap the Association of Southeast Asian Nations (ASEAN) market.
JFE and MISI will both invest $25m each - around PS15.
For fiscal 2012 ending next March 31, JFE said it has yet to make an earnings projection as negotiations with customers to set steel product prices are still continuing.
7 December 2011 -- JCR today affirmed the A+ rating on senior debts of Japanese steelmaker JFE Shoji Holdings (TYO:3332) and simultaneously raised the outlook to "positive" from "stable".
Itochu and JFE Steel, a key arm of JFE Holdings Inc.
MUMBAI -- JFE, the second largest Japanese steel maker by volume, is set to invest around $750 million in JSW Steel through a structured deal, allowing it to hold a tad less than 15% stake in the Sajjan Jindal-managed company.
The stake purchase, JFE s first major capital investment in a foreign steelmaker, will allow it to tap the rapidly growing market for auto-use steel in India.
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