NIPPON STEEL & SUMITOMO METAL TO BUILD A STEEL WIRE FACILITY IN INDIANA

Nippon Steel & Sumitomo Metal Corp plans to establish a steel wire processing facility in Shelbyville, Indiana, the Japanese steelmaker said Tuesday. 

The facility, which will be located adjacent to NSSMC's Precision Forge plant, will process cold heading steel wire used for fastener applications by the automotive parts industry and is expected to have an annual capacity of 39,000 mt. The facility, which will operate under the name Nippon Steel & Sumikin Cold Heading Wire Indiana Inc. as a wholly owned subsidiary of Tokyo-based NSSMC, is expected to cost $50 million and be fully operational by the spring of 2018.