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Worthington Industries Inc Finalizes Steel Processing Joint Venture in China

Friday, 18 Oct 2013 08:30am EDT 

Worthington Industries Inc announced that it has finalized its agreement with Nisshin Steel Co., Ltd. (Nisshin) and Marubeni-Itochu Steel Inc. (MISI) forming a joint venture called Zhejiang Nisshin Worthington Precision Specialty Steel Co., Ltd. Located near Shanghai, China, the joint venture will produce cold rolled strip steel primarily for the automotive industry. Worthington owns a 10% stake in the joint venture with the option to increase ownership and Japanese partners Nisshin and MISI own 55 and 35% respectively. 

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