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May
11, 2000
Nisshin Steel Co., Ltd. Nippon Steel Corporation |
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| Mutual Supply of Hot-Rolled Stainless Steel Coils | |
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In July 1999,
Nisshin Steel Co., Ltd. and Nippon Steel Corporation established a joint
venture company named NS Stainless Planning Co., Ltd., to explore possibilities
to improve their efficiency and costs in stainless steel manufacturing and
purchasing. As a result of its studies, the new venture has announced that
both parents will be able to cut production costs through reciprocal supply
of hot-rolled stainless steel coils. Based on this finding, Nisshin Steel and Nippon Steel have agreed to reciprocally provide part of hot-rolled stainless steel coils for cold reduction at their respective wrks. Details of this agreement for reciprocal supply are as follows: 1. Products Nisshin Steel is to provide to Nippon Steel common grade(s) of nickel-bearing hot-rolled stainless steel coils for conversion to cold-rolled products, and Nippon Steel is to provide to Nisshin Steel common grade(s) of straight nickel hot-rolled stainless steel coils for conversion to cold-rolled products. 2. Volume 10,000 tons each of both nickel and chrome hot-rolled stainless steel per month. 3. Schedule Work will proceed on quality assurance and reciprocal supply will begin in earnest with steel grades certified acceptable after test. |
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