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Japanese stainless steel producers combined

Two large stainless steel metal products from Japan — Nippon Metal Industry Corporation and Nisshin Steel have agreed to consolidate. The new company would be called the Nisshin Steel Holdings Co, and will become the second company in the country in terms of manufacture of corrosion resistant steels. To do this, organizations will exchange shares of the owners (the amount of the transaction is estimated at $ 180 million.) And optimize the production and marketing.

By the decision of the leadership to unite companies prompted a difficult market situation — the demand for stainless steel remains sluggish, while the share of imported metal in the domestic market of Japan is growing (due to lower prices for similar products from other Asian producers). Combining the same assets, the management expects to significantly steel corporations to improve their competitiveness. According to analysts, the synergistic effect will increase the company consolidated profit of 13 billion. Yen in the next five years.

At the moment, Nisshin Steel has a power output of 660 000 tonnes of stainless steel metal in the year, and their future partner — about 300 000. Volumes of production of the joint venture are still under discussion, but it is known that the primacy of this indicator remains at the current leader of Japan — Corporation Nippon Steel.

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