STEEL TECHNOLOGIES &lt;STTX> IN JOINT VENTURE

  Steel Technologies Inc said it
  signed an agreement with Mitsui and Co Ltd &lt;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.
  

