News Release
³Ô¹Ï±¬ÁÏ͵ÅÄ Corporation
JFE Bars & Shapes Corporation
³Ô¹Ï±¬ÁÏ͵ÅÄ Group to Integrate Bar and Wire Rod Businesses
Tokyo --- ³Ô¹Ï±¬ÁÏ͵ÅÄ Corporation and JFE Bars & Shapes Corporation, a JFE Group¡¯s electric-furnace steel maker, announced today that they will integrate their bar and wire rod businesses on April 1.
JFE Group currently has two separate bar and wire rod units, one at ³Ô¹Ï±¬ÁÏ͵ÅÄ and the other at JFE Bars & Shapes. Integration will strengthen sales in overseas markets including Asia and North America, where increased demand is envisioned for high-quality steel mainly for automobiles and construction machinery. The JFE Group also expects to raise its competitiveness versus rival mills in Japan and overseas. Further, the move will enhance customer convenience by integrating business contacts, upgrade delivery logistics and speed up research and development efforts.
On April 1, JFE Bars & Shapes will spin off its three bar and wire rod units, which respectively handle sales, technical services and R&D, and transfer them to the bar and wire rod unit of ³Ô¹Ï±¬ÁÏ͵ÅÄ. JFE Group brands for bar and wire rod will be integrated under ³Ô¹Ï±¬ÁÏ͵ÅÄ. Production bases will be located in Kurashiki of ³Ô¹Ï±¬ÁÏ͵ÅÄ¡¯s West Japan Works and Sendai Works of JFE Bars & Shapes. JFE Bars & Shapes Corporation will continue to operate as before. Steel bars and wire rods manufactured by Sendai Works will be supplied on an OEM basis to ³Ô¹Ï±¬ÁÏ͵ÅÄ.
³Ô¹Ï±¬ÁÏ͵ÅÄ¡¯s bar and wire rod businesses includes steel bar, wire rods and bars-in coil for special and common steel, except deformed steel bars.
# # #
