New JFE steel processing facility opens in northern Vietnam
HO CHI MINH CITY, NNA - JFE Shoji Corp., a trading arm of major Japanese steelmaker JFE Holdings Inc., has opened its second steel-processing center in Hai Phong, northern Vietnam.
JFE Shoji said Thursday operations had started this month at the plant built by JFE Shoji Steel Hai Phong Co., a local unit of the firm that is scrambling to meet growing demand amid production shifts from China due to a trade row between the country and the United States.
JFE Shoji did not disclose the amount it invested in the facility, where steel sheet for home appliances and office automation equipment is among the core products.
It is located on a 5,500-square-meter premises, roughly the same size as the other Hai Phong center engaged mainly in processing electrical steel sheet.
JFE Shoji aims to expand its steel processing and distribution network extensively by optimizing its three footholds in Vietnam, also including JFE Shoji Steel Vietnam Co. based in the southern city of Bien Hoa near Ho Chi Minh City. (NNA/Kyodo)