TOKYO - JFE Steel Corporation announced today that it has signed an agreement with its strategic partner JSW Steel Limited to provide manufacturing technology for the production of automotive steel in Cold Rolling Mill 2 (CRM-2) at Vijaynagar, which is expected to start operations by autumn 2013.
Under the agreement, JFE Steel, which has a 15% stake in JSW Steel, will provide assistance to develop various grades of steel, such as "JFE-HITEN" high-strength steel and steel sheets for automotive external panels, including JAZ® highly lubricated galvannealed steel sheet, to meet diverse, high-end demands from automakers with production bases in India.
JFE Steel will also provide technical assistance for the operation of the 2.3 million tpa cold rolling mill (PL-TCM), 1.9 million tpa continuous annealing lines (CAL), and 0.4 million tpa continuous galvanizing Line (CGL) at CRM-2. This fully integrated manufacturing facility will enable JSW to achieve its ultimate goal.
India's automobile industry is expected to maintain sustainable growth far into the future. The CRM-2 capacity will help JSW immensely to make a full-scale entry into the automotive steel market and expand steel sales. JFE Steel will also strive to leverage its strategic collaboration with JSW Steel in providing steel products and pursue its growth strategy in the Indian automotive steel sheet market.
# # #
For further information, please contact: