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Nippon Steel to Ship Crankshafts from India to U.S., ASEAN
In April Nippon Steel & Sumitomo Metal Corp. expects to begin shipping some 300,000 crankshafts annually to the U.S. from a factory in India, The Nikkei reports.
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In April Nippon Steel & Sumitomo Metal Corp. expects to begin shipping some 300,000 crankshafts annually to the U.S. from a factory in India, The Nikkei reports.
The company also will supply crankshafts to members of the Assn. of Southeast Asian Nations.
NSSMC supplies 10% of the worldwide market for crankshafts from factories in China, India, Japan and the U.S., according to the report.
The company's venture in India, SMI Amtek Crankshaft, has capacity to make as many as 2.2 million forged crankshafts annually. But it is expected to produce only 800,000 units in the fiscal year ending March 31 because of India's slumping car market. The Nikkei says the venture hopes that increased exports will enable it to hike output to 1 million crankshafts in the next 12 months.
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