STEEL TECHNOLOGIES <STTX> IN JOINT VENTURE
Steel Technologies Inc said it
signed an agreement with Mitsui and Co Ltd <MITSY> and its
subsidiaries to establish a joint venture corporation to be
called Mi-Tech Steel Inc.
    Mitsui, through its subsidiaries, Mitsui and Co USA Inc and
Mitsui Steel Development Co Inc, and Steel Technologies each
will own 50 pct of the new company, the company said.
    Mi-tech Steel will construct, own and operate steel service
centers. The facilities will be established to serve Japanese
and domestic automobile and appliance parts manufactures in the
U.S., the company said.
    The initial processing center will be located near
Murfreesboro, Tenn., and is expected to begin operations in the
fall of 1987, Steel Technologies said.
    Daryl Elser, president of Steel Technologies, will be
president of the new company, it said.
 Reuter
