Marubeni-Itochu Steel Inc.(MISI) has invested in Network Steel Resources (NSR), based in Madrid, Spain. The investment agreement was signed on July 23 between Mr. Toshihiro Tachibana, MISI's Chief Executive Officer and Director of Iron and Steel Division II, and Mr. Oscar Heckh, President of NSR in Spain.
NSR is active in sheet re-rolling, processing and sales in Spain. It has a total of 7 production and processing facilities in the Iberian Peninsula, covering Spain and Portugal. The company's annual sales volume is approximately 1 million tons, most of which consists of products used in building materials.
MISI is known to have achieved the highest sales figures among Japanese steel trading companies operating in the European market. With its investment in NSR, MISI aims to achieve consistent growth by expanding its business areas in Europe.
According to experts, MISI will also contribute to increasing the corporate value of NSR.
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