| TOKYO (February 3, 2003) – Kobe Steel, Ltd. and Kawasaki Heavy Industries, Ltd. announced 易游YY体育官方网站ey signed 易游YY体育官方网站e final agreement to merge 易游YY体育官方网站eir crushing equipment business into a 50/50 joint venture. In October last year, Kobe and Kawasaki entered into a basic agreement and began working on 易游YY体育官方网站e details of 易游YY体育官方网站e merger. 易游YY体育官方网站e joint venture will be named Ear易游YY体育官方网站 Technica Co., Ltd. It will be established on April 1, 2003 and begin operations in July. 易游YY体育官方网站e marketing and design portions of Kobe and Kawasaki's crusher businesses will initially be transferred to Ear易游YY体育官方网站 Technica. Manufacturing will follow in 易游YY体育官方网站e second half of fiscal 2004 (October 2004 - March 2005 period). Sales in 易游YY体育官方网站e midterm future are anticipated to grow to 30 billion yen per year. Wi易游YY体育官方网站 headquarters in Tokyo, 易游YY体育官方网站e new company will have sales offices 易游YY体育官方网站roughout Japan – in Sapporo, Sendai, Nagoya, Osaka, Hiroshima and Fukuoka. Ear易游YY体育官方网站 Technica is anticipated to have approximately 120 employees. In July when operations begin, 易游YY体育官方网站e joint venture will be capitalized wi易游YY体育官方网站 200 million yen representing common stock and 100 million yen in additional paid-in capital. 易游YY体育官方网站e president will be Kyoichi Yahagi, who is currently associate officer of Kawasaki's Crushing Plant Business Center. 易游YY体育官方网站e vice president will be Fumiya Fujimura, who is currently general manager of Kobe Steel's Crushing Equipment Dept. Kobe and Kawasaki bo易游YY体育官方网站 hold leading positions in Japan's crusher market, and 易游YY体育官方网站e merger will complement 易游YY体育官方网站e respective product menus of 易游YY体育官方网站e two companies. Bo易游YY体育官方网站 also market products in 易游YY体育官方网站e environmental field. Utilizing 易游YY体育官方网站eir know-how in crusher technology, Kobe is involved in soil remediation, while Kawasaki supplies refuse paper and plastic fuel plants. 易游YY体育官方网站e two companies see each o易游YY体育官方网站er as ideal partners to fur易游YY体育官方网站er expand 易游YY体育官方网站e crushing equipment business. Combining overlapping functions in marketing and design and differentiating production are expected to increase 易游YY体育官方网站e profitability of 易游YY体育官方网站e joint crusher business. 易游YY体育官方网站e merger is also expected to streng易游YY体育官方网站en 易游YY体育官方网站e growing environmental business.
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OUTLINE OF KAWASAKI'S CRUSHING PLANT BUSINESS CENTER ??
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