Posted on 01 Nov 2022
NS Galva Co., Ltd. (NS Galva), a 100% controlled subsidiary of Nippon Steel Coated Sheet Corporation, will cease operations at the Yachiyo city of Chiba Prefecture in mid or late June 2023.
The business will be discontinued because the company maintains a negative outlook on future demand, Kallanish notes.
NS Galva's main business is to produce hot-dip galvanized steel, but in addition to the expected drop in demand in the medium and long term, the severe operating environment is still continuing due to rising raw material and fuel costs.
"We cannot expect this situation to improve in the future," the company says in the official announcement.
Source:Kallanish
