March 29: China’s JFE Container Co is planning to construct a metal drum plant in the province of Jiangsu, with production due to start in March 2012.
The factory will be run by a joint venture to be established next month, reported The Nikkei. Called JFE Steel Drum Jiangsu Co, it will have capital of 900 million yen (US$9.7m), with JFE Container, a subsidiary of Japanese steelmaker JFE Holdings, providing 80.1 percent and Marubeni-Itochu Steel the remainder.
