Kobe Steel to sell small-diameter seamless steel pipes and tubes for bearings

January 18, 2019

Kobe Steel, Ltd.

Kobe Steel, Ltd. has been having discussions with Nippon Steel & Sumitomo Metal Corporation ("NSSMC") and Sanyo Special Steel Co., Ltd. ("Sanyo") for Kobe Steel to receive a portion of NSSMC’s business and Sanyo’s business regarding small-diameter seamless steel pipes and tubes for bearings ("the products") manufactured and sold by NSSMC and Sanyo. In addition, with this transfer Kobe Steel would receive a certain percentage of a stake in rolling mills owned by Sanyo. Within the scope of those rights, Kobe Steel would commission the operation of the rolling mills and production of the products to NSSMC and Sanyo.

On the premise that Kobe Steel would begin selling the products in April 2019, Kobe Steel, NSSMC and Sanyo have already concluded a basic agreement for the above points. Under the basic agreement, the three companies plan to conclude a practical agreement to set the details for executing the plan.

To date, Kobe Steel has been manufacturing and selling steel wire rod and bar products for bearings. By adding seamless steel pipes and tubes for bearings to its menu, Kobe Steel will be able to meet the diverse needs of its customers for bearing applications.

Profile of Kobe Steel, Ltd.

Company name:
Kobe Steel, Ltd.
Head office:
Kobe, Hyogo Prefecture, Japan
Representative:
Mitsugu Yamaguchi, President, CEO and Representative Director
Founded:
1905
Employees:
37,436 (consolidated, as of the end of March 2018)
Main businesses:
Iron and steel, welding, aluminum and copper, machinery, engineering, electric power

Profile of Nippon Steel & Sumitomo Metal Corporation

Company name:
Nippon Steel & Sumitomo Metal Corporation
Head office:
Chiyoda-ku, Tokyo, Japan
Representative:
Kosei Shindo, Representative Director and President
Established:
1950
Employees:
93,557 (consolidated, as of the end of march 2018)
Main businesses:
Steelmaking and steel fabrication, engineering, chemicals, new materials, system solutions

Profile of Sanyo Special Steel Co., Ltd.

Company name:
Sanyo Special Steel Co., Ltd.
Head office:
Himeji, Hyogo Prefecture, Japan
Representative:
Shinya Higuchi, Representative Director and President
Established:
1935
Employees:
3,768 (consolidated, as of the end of March 2018)
Main businesses:
Steel, metal powder, formed and fabricated materials

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