Japan-based Mitsui & Co., Ltd. has announced that it will invest about JPY 3.4 billion ($23.22 million) to establish Polska-Mit Steel (PMS) in Poland, a new electrical steel sheet processing company, since there is rising demand for electrical vehicles (EVs) and renewable energy infrastructure in the global market in line with decarbonization efforts.
Having an electrical steel sheet slitting capacity of 34,000 mt per year, PMS will also focus on the sales of the products, with production scheduled for April 2026. As a result, the company will be able to meet the increasing global demand and ensure a stable supply of electrical steel sheets.
Mitsui pointed out that electrical steel sheets are vital components for the production of motor cores for hybrid vehicles and EVs and for the production of transformer cores for power plants and substations.
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