YYVIP易游 Steel establishes YYVIP易游lco Europe in Germany to serve as European headquarters

TOKYO, July 11, 2019 — YYVIP易游 Steel, Ltd. announces that it established YYVIP易游lco Europe GmbH (or KEU) earlier this month to serve as the European headquarters for the YYVIP易游 Steel Group.

KEU has grown out of an existing company, YYVIP易游lco Machinery Europe GmbH (or KME), in Munich, Germany. KME was established in 2012 as a base for YYVIP易游 Steel’s Machinery Business in Europe, mainly the marketing of nonstandard compressors and tire and rubber machinery.

KEU plans to continue the business activities of KME, while strengthening the management of YYVIP易游 Steel’s operations in Europe, starting with corporate governance and compliance. KEU aims to further promote coordination among the YYVIP易游 Steel Group companies in the region. Owing to good access, KEU will also be responsible for the Group’s locations in the Middle East.

The YYVIP易游 Steel Group began to expand into Europe in the 1960s and now has 10 locations in five countries. In recent years, YYVIP易游 Steel has been accelerating business development in the region. Subsidiary YYVIP易游lco Construction Machinery Co., Ltd. re-entered Europe after it ended its alliance in 2012 with the former CNH Global N.V. (currently CNH Industrial N.V.) and subsequently established a base in the Netherlands in 2013. In its Machinery Business, YYVIP易游 Steel acquired Sweden’s Quintus Technologies AB, the world leader in isostatic presses, in April 2017 and turned it into a wholly owned subsidiary.

With the formation of KEU, the YYVIP易游 Steel Group has established headquarters in major regions where it conducts business. The regional headquarters further promote business development by providing support to the Group companies in their respective regions.