Kobe Steel : Change in the date of integration of the road-related business of Nippon Steel Metal Products Co. Ltd. and Kobelco Engineered Construction Materials Co. Ltd.
March 24, 2021 at 07:41 am EDT
Share
Nippon Steel Corporation ('Nippon Steel'), its wholly-owned subsidiary Nippon Steel Metal Products Co., Ltd. ('Nippon Steel Metal Products'), Kobe Steel, Ltd. ('Kobe Steel') and its subsidiary Kobelco Engineered Construction Materials Co., Ltd. ('Kobelco Engineered Construction Materials') have agreed to change the implementation date of the integration of Nippon Steel Metal Products' road-related business (such as guard fencing and soundproof walls) and Kobelco Engineered Construction Materials to the second half of fiscal 2021. The four companies will announce the specific implementation date when the date of the approval by the relevant authorities becomes clear.
Under the severe business environment surrounding road-related business, the four companies had discussions and shared the understanding that Nippon Steel Metal Products and Kobelco Engineered Construction Materials would need to integrate their business resources and enhance competitiveness in the road-related business, which thus allow them to make further contributions to infrastructures in society, the four companies reached a basic agreement to integrate the business on April 1, 2021, subject to the prior approval of the relevant authorities and so announced on March 4, 2020*,.
Because discussions with the relevant authorities have been made since then and the procedures under the competition laws have not been completed as of today due to the impact of the novel coronavirus pandemic and other factors, it would take some more time to implement the integration.
The four companies will accelerate the process for the integration of their road-related business in order to make further contributions in the field of social infrastructure, without changing the initial policy.
Attachments
Original document
Permalink
Disclaimer
Kobelco - Kobe Steel Ltd. published this content on 24 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2021 11:40:02 UTC.
Kobe Steel, Ltd. specializes in manufacturing and marketing of steel and metallurgical products. The group is also developing production of construction and industrial machines activity. Net sales break down by activity as follows:
- sale of steel and aluminum products (42.3%): special steel wires, stainless tubes, rolled steel products, steel strips, aluminum plates and sheets, aluminum alloy products, building materials, etc.;
- manufacturing of construction machines (17.8%): cranes, hydraulic excavators, mini excavators and wheeled loaders;
- sales of advanced materials (15.6%): copper foil for semiconductors, copper tubes for air conditioners, aluminum extrusions, aluminum alloy products, iron powder, etc.;
- manufacturing of industrial machines (7.8%): compressors, high pressure machines, heat pumps, nuclear plants equipments, etc.;
- engineering services (6.4%);
- electric power production (5.3%);
- sale of welding materials and equipments (3.6%);
- other (1.2%): primarily sale of electronic equipments and real estate development.
Kobe Steel : Change in the date of integration of the road-related business of Nippon Steel Metal Products Co. Ltd. and Kobelco Engineered Construction Materials Co. Ltd.