Kobe Steel's first investment since scandal
Kobe Steel, one of Japan’s largest steelmakers, said on Wednesday it will invest NZ$644 million in domestic facilities to increase output of high-tensile steel to meet a growing need for lighter materials from carmakers.
Posted on 04 April, 2018
It is the company’s first major capital investment since staff falsified the strength and durability of metal products delivered to more than 500 customers. These included automotive manufacturers, aerospace companies and the space industry. Kobe Steel said it will build a new production line at Kakogawa Works in western Japan to raise its annual production capacity of automotive steel sheet by 240,000 tonnes. The new facility is expected to begin operating by February 2021. The move comes as carmakers are demanding lighter yet stronger materials to meet stricter regulations on fuel efficiency and collision safety.
