# Sumitomo and Daido Steel form joint venture for tool steel in Wuxi, China

Sumitomo Corporation and Daido Steel have agreed to establish a joint venture, Wuxi Summit Nikka Metal Products Co., Ltd., in Wuxi, Jiangsu Province, to expand high-grade tool steel distribution and processing in China. Commercial production is scheduled for mid-2018.

- Type: Partnership
- Announced: 2017-10-31
- Where: Wuxi, Jiangsu Province, China
- Status: announced
- Products: high-grade tool steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Sumitomo Corporation](https://endata.com/companies/6281.md)
- [Daido Steel](https://endata.com/companies/27636.md) (partner)

## Sources

- [sumitomocorp.com](https://www.sumitomocorp.com/en/jp/news/release/2017/group/20171031), 2017-10-30: "Sumitomo and Daido Steel have agreed to establish a joint venture in Wuxi, Jiangsu Province, for the purpose of expanding the high-grade tool steel distribution and processing business in China."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.