• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Nippon Steel, Sumitomo Metal to Mull Integrating Part of Operations

Posted on: Tuesday, 28 February 2006, 12:00 CST

By Kyodo News International, Tokyo

Feb. 28--TOKYO -- Nippon Steel Corp. and Sumitomo Metal Industries Ltd. said Tuesday they have reached a basic agreement to consider integrating their structural steel sheet businesses and road and civil engineering materials businesses.

The accord is part of efforts to form a capital and business partnership between the leading Japanese steelmakers, according to officials.

Nippon Steel and Sumitomo Metal said they will set up a joint committee to study the feasibility of integrating the structural steel sheet businesses of their respective subsidiaries, Nittetsu Steel Sheet Corp. and Sumitomo Metal Steel Products Inc.

The committee will also study the possibility of Nippon Steel Metals Products Co. and Sumitomo Metal Steel Products integrating their road and civil engineering materials businesses.

Nippon Steel and Sumitomo Metal hope to sign formal agreements in May and establish integrated companies, with efficient production and sales structures in their respective business areas, in October.

-----

To see more of Kyodo News International, go to http://www.kyodonews.com

Copyright (c) 2006, Kyodo News International, Tokyo

Distributed by Knight Ridder/Tribune Business News.

For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com.

5401, SMMLY, 5405,

Source: Kyodo News International, Tokyo

More News in this Category