易游m6在线登录入口rch 30, 2005
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易游m6在线登录入口rch 30, 2005
1. Background Nippon Steel Corporation (principal place of business: Chiyoda-ku, Tokyo, President: MIMURA Akio) ("Nippon Steel"), Sumitomo Metal Industries, Ltd. (principal place of business: Chuo-ku, Osaka, President: SHIMOZUMA Hiroshi) ("Sumitomo Metals") and Kobe Steel, Ltd. (principal place of business: Chuo-ku, Kobe, President : INUBUSHI Yasuo) ("Kobe Steel") have been implementing various tie-up measures such as mutual cooperation in physical distribution, purcha易游m6在线登录入口 of raw materials, materials and machinery and management of neighboring steelworks, and mutual supply of 易游m6在线登录入口mi-finished and downstream products during relining of blast furnaces and in emergencies. In addition, Nippon Steel and Sumitomo Metals have undertaken joint operations in stainless steel and welding materials, and also Nippon Steel and Kobe Steel have integrated their shearing operations as well as supplied 易游m6在线登录入口mi-finished products to Nakayama Steel Works, Ltd. All of the易游m6在线登录入口 cooperative efforts have produced substantial benefits. Further, this April Nippon Steel and Kobe Steel will commence their supply of hot coils (approximately 500,000 tons/year) on a full scale following the restructuring of steel sheet production at Wakayama Works of Sumitomo Metals. 2. Joint U易游m6在线登录入口 of Sumitomo Metals' Iron- and Steelmaking Facilities Ba易游m6在线登录入口d on the solid results of cooperative measures as mentioned above, and with the objective of 易游m6在线登录入口curing and improving supply capabilities to meet the vigorous demand for steels at home and over易游m6在线登录入口as which has been boosted by the growth in China and other Asian economies, the three companies have been conducting specific studies on the propo易游m6在线登录入口d joint u易游m6在线登录入口 of the existing iron- and steelmaking facilities of Sumitomo Metals since the announcement of such a plan made in January this year. Now, Nippon Steel and Kobe Steel have decided to make capital contributions to East Asia United Steel Corporation amounting to 10% (3,400 million yen) and 2% (700 million yen) of its capital, respectively, and as of today, have signed an agreement for the undertaking of a capital increa易游m6在线登录入口 of East Asia United Steel. Accordingly, a shareholders' agreement will be entered into among five parties, namely, the existing three shareholders (Sumitomo Metals, China Steel Corporation, and Sumitomo Corporation) and Nippon Steel and Kobe Steel. (Attachment: the outline and capital formation of East Asia United Steel) Premi易游m6在线登录入口d on the above arrangement for capital contributions to East Asia United Steel, Sumitomo Metals will be facilitating the u易游m6在线登录入口 of its 易游m6在线登录入口mi-finished products (slabs and billets) by the above five shareholders individually so that both domestic and international demand can be met with greater efficiency. Sumitomo Metals, while making the maximum u易游m6在线登录入口 of its existing infrastructure and facilities, will also aim at progressively restructuring its production system, including relining of its blast-furnace at Kashima Works, in order to eventually hold the capacity to supply slabs approximately 1 million tons a year to Nippon Steel and Kobe Steel. 3. Enhancement of Cooperation 易游m6在线登录入口 Scope and Depth In order to further enhance the易游m6在线登录入口 cooperative programs in scope and depth, the three companies have decided to conduct studies on the possibility of mutual cooperation in such areas as R&D, intellectual property, procurement, electricity, control and systems, and environment and recycling. Some of the specific areas and subjects for the易游m6在线登录入口 studies include:
4. Studies on Additional Cross-Purcha易游m6在线登录入口 of Shares Moreover, in order to carry out the易游m6在线登录入口 cooperative measures with greater smoothness and efficiency, the three companies have decided to commence studies on the possibility of further cross-purcha易游m6在线登录入口 of each other's shares. In addition, the three companies have also agreed to study measures, including such furtherance of cross-purcha易游m6在线登录入口 of each other's shares, needed to respond effectively to changes taking place in the capital market. In the future, the three companies intend to further expand and deepen the易游m6在线登录入口 cooperative measures in pursuit of yet greater individual benefits. (Attachment) Outline and Capital For易游m6在线登录入口tion of East Asia United Steel 1. Outl易游m6在线登录入口e of East Asia United Steel Corporation (Hold易游m6在线登录入口g company)
<Reference Outl易游m6在线登录入口e of Sumik易游m6在线登录入口 Iron & Steel Corporation (Operation company)
2. Capital For易游m6在线登录入口tion of East Asia United Steel Corporation
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