Skip to main content

Aichi Steel invests $7 million in Vardhman Special Steel in India


Aichi Steel invests $7 million in Vardhman Special Steel in India
Recently, Japanese special steel manufacturer Aichi Steel Co., Ltd. and India Vardhman Special Steel Co., Ltd. signed a $7 million agreement at a ceremony held in Aichi Prefecture, Japan. Vardhman Special Steel announced a new partnership with Aichi Steel Japan, a subsidiary of Toyota Motor Corporation of Japan. Aichi Steel will purchase approximately 11.4% of Vardhman Special Steel and provide technical assistance.
The company will be able to supply steel for critical and specific applications in today’s and tomorrow’s automotive industries. Aichi Steel will send three people to India and will continue to provide additional key support from the headquarters. The complementary product portfolio of management, products, technology and services provided by Aichi Steel provide end users with special steels with years of expertise and proven technical support. This will help Vardhman Special Steel expand its size and market in the coming years.
Vardhman Special Steel Vice Chairman and MD Sachit Jain said, “One of the key objectives of our cooperation is to develop special steel grades for Indian car companies to help fill the gaps in the steel substitutes currently being imported. We plan to do this later. A special grade of steel is exported to South Asia and Europe.”
Takahiro Fujioka, President of Aichi, said, “This partnership will help Aichi Steel to improve its quality and cost competitiveness on a global scale, thereby strengthening the foundation of its special steel business. Friends who are in need are indeed friends, Vardhman Special Steel Team is our friend who will support the development of technology-based solutions in the next few years.”
This move by Vardhman Special Steel was carried out after intensive consultations with the Indian Ministry of Steel and hopes to work on the “Made in India” platform, a large-scale project by Indian Prime Minister Narendra Modi. This joint project of Vardhman Special Steel and Aichi Steel will also increase the employment market and promote the development of the South Asian steel industry in the next few years.

Comments

Post a Comment

Popular posts from this blog

30 LB RAIL FOR SALE

  30 LB RAIL FOR SALE What is a 30 lb rail? A 30 lb rail refers to a rail weighing 30 lb in meters, which is an ASCE 30 model rail produced according to ASTM A1. As a common light track, it is mainly used for laying mining track lines. Therefore, it is widely used in the South American market. The dimensions of the 30 lb rail are as follows: Head width: 42.9mm Track height: 79.4mm Track bottom width: 79.4mm Waist thickness: 8.4mm GloryRail is an important  mining rail  supplier in China. Engaged in rail supply for more than 20 years. Rail products are exported to many countries and regions around the world. Trusted and supported by many mining customers. We maintain long-term cooperative relationships with many important customers in Peru, Colombia, Panama, and Venezuela in South America BUY 30 LB RAIL FROM CHINA As the world’s most important rail tracks production base. There are six major steel mills in China producing rails with an annual output of millions of tons. G...
Post a Comment
Read more

What are railway rail fasteners？

What are railway rail fasteners？ Railway rail fasteners Railway rail fasteners are a kind of railway accessories. The parts used to combine rails and sleepers (or other types of under-rail foundations) on the track are also called central joint parts. Its function is to fix the steel rail on the sleeper, maintain the gauge and prevent the longitudinal and lateral movement of the rail relative to the sleeper. The railway rail fastener system is divided into the shrapnel fastener system, gusset fastener system, and elastic strip fastener system. The gusset-type fastener is composed of a gusset plate, a threaded spike, a spring washer, an iron seat, and a buffer pad. The threaded spike is anchored in the reserved hole of the concrete sleeper bearing platform with sulfur cement mortar, and then bolts are used to fasten the buckle. Plate fastened. There are elastic strips I, II, and III types of clip fasteners. Type I elastic strip is composed of ω elastic strip,  screw spike , gauge b...
Post a Comment
Read more

South Korea’s Hot Rolled Steel Plate Production Will Decline this Year

South Korea’s Hot Rolled Steel Plate Production Will Decline this Year It is predicted that Korean domestic production of  hot rolled steel plate  will decline this year due to weak market demand. In the first half of the year, Korean domestic production of hot rolled steel plate was 6.048 million tons, a decrease of 4.8% year-on-year. The main reason for the reduction in production is the large-scale maintenance of related equipment, especially in September and October. Another reason is the recent weakening of demand in the domestic market in Korea. In the second half of this year, besides the small rebound in market demand in the construction industry, the consumption prospects of other downstream steel industries are bleak. However, considering the intensification of trade tensions between Japan and South Korea, South Korea may cut import of hot rolled steel plate, cold rolled steel sheets and pipes from Japan. Therefore, Korean hot rolled steel plate producers ...
Post a Comment
Read more