Kobe Steel, Mitsui and Toyota have formed a joint venture to manufacture and market aluminium forgings for automotive applications in the United States.
The joint venture will be called Kobe Aluminum Automotive Products LLC. Kobe Steel will own 60% of the joint venture, with Mitsui owning 25% and Toyota owning the remaining 15%. It will be located in Bowling Green Kentucky and will be capitalised to the tune of $14 million. Kobe Steel will be responsible for all aspects of manufacturing and quality assurance, while Mitsui and Toyota will be responsible for the marketing to American manufacturers.
Construction work on the new plant is scheduled to start next month, with production expected by June 2005. The facility will feature 10,000 m2 of factory and office space and will have continuous casting, mechanical forging and heat treatment capabilities.
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