Kobe Steel and U.S. Steel Agree on Steel Capacity Investments


An article from Reuters reported today that "Kobe Steel Ltd (5406.T), Japan's fourth-biggest steelmaker, said on Thursday it had agreed with U.S. Steel Corp (X.N) to add a 500,000 short tons a year automotive sheet steel capacity at their 50-50 joint venture Pro-Tec Coating Co in Ohio.

The total investment cost is $400 million and they aim to start operating the line in early 2013, Kobe Steel said."

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