Sumitomo Metals invests in new Thailand steel plate mill

Sumitomo Metal Industries Ltd has decided to take part in the Canadoil Group's steel plate mill business in Thailand by investing in the group, which is currently constructing a new steel plate mill in the country, and providing technical assistance to the mill. Sumitomo Metals has invested US$50 million into the Canadoil Group's holding company. With this investment Sumitomo Metals will acquire the capacity to manufacture around 0.3 million tonnes annually from 2013. The new plate mill is scheduled to be operational in 2013 with an annual capacity of around 1.2 million metric tonnes and with the total investment of about US$600 million. In order to respond to expected midto long-term growth potential, Sumitomo Metals plans to manufacture high-grade steel plates in the new mill and use the Kashima mill capacity to manufacture more value-added, highly-profitable highgrade steel plates.Womens Nike Cortez