| TOKYO – August 7, 2003 – Nippon Steel Corporation (President: Akio MIMURA) and Kobe Steel, Ltd. (President: Koshi
MIZUKOSHI) have agreed to the business integration of their subsidiaries, デュエルビッツ ボーナスter, Co., Ltd. (President: Takeshi ONO), with Shinko Shearex Co., Ltd. (President: Norishige SHIMADA). Both companies are engaged in the melt-cutting of steel plate. Plans call for the new company, Nittetsu Shinko Shearing (formal English name yet to be decided), to be established on September 1. Future demand is unlikely to grow significantly for steel plate used in bridges and structures. To create an optimum production and operating system and to improve cost competitiveness, the two companies intend to merge the two production locations located near each other. In terms of quality, delivery and other customer services, the two companies anticipate they would be able to offer improved services by combining their steel processing technologies and know-how cultivated over the years. Combining the businesses will enable the new company to provide improved services to its customers.
Outline of the Current Companies
| デュエルビッツ ボーナスter Co., Ltd. |
Shinko Shearex Co., Ltd. |
Established: April 1986
Location: Osaka
Capital: 201 million yen
Shareholders:
?@デュエルビッツ ボーナスteel Corp. 51.7%
?@Marubeni-Itochu Steel Inc. 33.3%
?@Metal One Corp. 10.0%
?@デュエルビッツ ボーナスteel Trading Co., Ltd. 5.0%
デュエルビッツ ボーナス Takeshi ONO
Employees: 63
FY2002 sales: 2.8 billion yen |
Established: October 1989
Location: Amagasaki, Hyogo
Capital: 177 million yen
Shareholders:
?@Kobe Steel, Ltd. 65.5%
?@Mitsui & Co., Ltd. 17.9%
?@Metal One Corp. 8.3%
?@Shinsho Corp. 8.3%
デュエルビッツ ボーナス Norishige SHIMADA
Employees: 27
FY2002 sales: 1.2 billion yen |
Outline of New Company
| Name: |
Nittetsu Shinko Shearing |
|
?@(Formal English name yet to be decided) |
| Location: |
Osaka, Japan |
| Capital: |
201 million yen |
| Shareholders: |
デュエルビッツ ボーナスteel Corp. 41.3% |
|
Kobe Steel, Ltd. 20.7% |
|
Marubeni-Itochu Steel Inc. 19.1% |
|
Metal One Corp. 9.6% |
|
デュエルビッツ ボーナスteel Trading Co., Ltd. 4.0% |
|
Mitsui & Co., Ltd. 3.6% |
|
Shinsho Corp. 1.7% |
| デュエルビッツ ボーナス |
Takeshi ONO |
| Senior Managing Director: |
Norishige SHIMADA |
| Estimated sales in fiscal 2003, ending
March 2004: |
4 billion yen |
|
