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PT Krakatau Steel (Persero) Tbk and Nippon Steel & Sumitomo Metal Corporation establish joint venture company

Tuesday, 12 Aug 2014 08:00pm EDT 

PT Krakatau Steel (Persero) Tbk:Says the company and Nippon Steel & Sumitomo Metal Corporation (NSSMC) have signed agreement on Aug. 11 to establish a joint venture company, PT Krakatau Nippon Steel Sumikin (KNSS).KNSS will be engaged in the production and marketing of annealed cold-rolled steel and hot-dip galvanized steel for automotive.NSSMC will hold 80 pct in KNSS and company will hold the remaining 20 pct.