Jason Sandefur

Tokyo-based Metal One Corp. will form an automobile fasteners marketing subsidiary in Hungary on June 1. At a startup cost of about $500,000, NIFAST Hungary Kft. will be located in the city of Esztergom. Metal One projects regional sales of $18.7 million by 2005.
The wholly owned subsidiary will be Metal One�s first fastener venture in Europe. Using just-in-time delivery, NIFAST hopes to begin supplying OEMs in October.
Metal One was created in January 2003 through the integration of the steel businesses of Mitsubishi Corp. and Nissho Iwai Corp. Web: mtlo.co.jp �2004 FastenerNews.com