Nippon Steel & Kobe Steel to Integrate Road Related Steel Business
By Strategic Research Institute on Sep 10, 2021 09:17 am
Nippon Steel Corporation, its wholly-owned subsidiary Nippon Steel Metal Products Co Ltd, Kobe Steel Ltd and its subsidiary Kobelco Engineered Construction Materials Co Ltd have discussed the integration of the road-related business of Nippon Steel Metal Products and Kobelco Engineered Construction Materials scheduled for the second half of fiscal 2021. As the four companies settled the matters related to the Integration, they concluded the final agreement on the Integration. In the Integration, the road-related business of Nippon Steel Metal Products and all businesses of Kobelco Engineered Construction Materials will be integrated. Nippon Steel Metal Products will be the splitting company and Kobelco Engineered Construction Materials will be the succeeding company in an absorption-type company split. The new company Nippon Steel and Kobelco Metal Products Co Ltd with have head office at Sotokanda in Chiyoda-ku in Tokyo and Nippon Steel Metal Products Co Ltd’s Managing Director Mr Takehiko Furukawawill be President and Representative Director. Date of the Integration is planned for November 1, 2021
The shareholders and shareholding ratio of the integrated company will be 65% Nippon Steel Metal Products & 35% Kobe Steel. The integrated company will be a consolidated subsidiary of Nippon Steel Metal Products and be a company, the accounting of which will use the equity method of Kobe Steel.
Nippon Steel Metal Products Co Ltd manufactures and sells light gauge steel sections, square steel tubing, deck plating, guard fencing, soundproof wall products, civil engineering products, foundation piles, disaster prevention products, designed steel sheeting, Beatty products, poles, NITTEXTM, etc.
Kobelco Engineered Construction Materials Co Ltd manufacturers and sells guard fencing, soundproof wall products, landscaping products, grating, disaster prevention products, structural members, etc.