Japan's Kobe Steel to Make, Sell Welding Materials in China

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Last updated at: (Beijing Time) Friday, November 01, 2002

Japan's Kobe Steel to Make, Sell Welding Materials in China

Japan's Kobe Steel Ltd. is to establish a joint venture in China to make and sell welding materials there, Kyodo News reported Thursday.

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Japan's Kobe Steel Ltd. is to establish a joint venture in China to make and sell welding materials there, Kyodo News reported Thursday.

The joint venture, Kobe Welding of Tangshan Co., will be established in November in Tangshan, north China's Hebei Province,with a capital of 1.45 billion yen (11.9 million US dollars), Kyodo said.

It will be 48 percent owned by Kobe Steel, 25 percent by Matsushita Industrial Equipment Co., an affiliated firm of Japan'sMatsushita Electric Industrial Co., 23 percent by Tangshan KaiyuanCorp, and 4 percent by a Kobe Steel affiliated enterprise.

Kobe Welding will produce two types of welding materials -- solid welding wire and flux cored welding wire -- with output capacity of 1,250 tons per month for solid welding wire and 250 tons for flux cored wire by 2004.

In 1994, Matsushita Industrial Equipment and Tangshan Kaiyuan Electric set up a joint firm to produce and sell welding power sources and welding equipment, Kyodo said.

Kobe Welding will use sales networks built by the joint firm tomarket its products across China, Kyodo said.

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