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Kobe Steel announces simple- and short-form merger of consolidated subsidiary through absorption
October 28, 2010
Kobe Steel, Ltd. announced today that at its Board of Directors' meeting convened on October 28, 2010 it had passed a resolution to effect an absorption-type merger of its wholly-owned subsidiary Kobe Welding Wire Co., Ltd.
1. Purpose of the Merger
The principal activity of Kobe Welding Wire Co., Ltd., a wholly-owned subsidiary, is the manufacture of solid welding wire, a type of welding consumable. Merging Kobe Welding Wire into Kobe Steel's Welding Business will unify operations, as well as effectively utilize management resources and promote the further strengthening of its business foundation.
Profile of Kobe Welding Wire (as of March 31, 2010)
| Company name : | Kobe Welding Wire Co., Ltd. |
| Location : | Fukuchiyama, Kyoto Prefecture |
| President : | Mitsuo Takamura |
| Capital : | 250 million yen |
| Sales : | 9,993 million yen (fiscal 2009) |
2. Schedule for the Merger
| Resolution at Board of Directors' meeting : | October 28, 2010 |
| Signing of agreement : | October 28, 2010 |
| Effective date (date of merger) : | April 1, 2011 |
3. Effect on Kobe Steel's Business Results
This merger will have no effect on the consolidated business results of Kobe Steel, Ltd., as Kobe Steel will effect an absorption-type merger of a wholly owned subsidiary.
