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October 12, 2006
    

Integration of Stainless Steel Business Bases in Thailand

 
The Metal One Corporation (headquartered in Minato-ku, Tokyo; President Moriji Kanada) is pleased to announce plans to officially integrate the company's two stainless steel business bases in Thailand - MC Hanwa (Thailand) Co., Ltd. and the stainless steel division of Metal One (Thailand) Co., Ltd - next January. The former is a wholly owned coil center subsidiary of Metal One Stainless (Asia) Pte. Ltd. and has a capital breakdown of 97% Metal One Corporation and 3% Hanwa Kozai Co., Ltd. The latter is a Thai subsidiary of Metal One. The new company's name is Metal One Stainless (Thailand) Co., Ltd. Kazuo Okuhata, currently President of MC Hanwa Thailand, will serve as President, while Naofumi Oda of the Metal One Stainless Steel Department will be the new Director.

In engineering the integration, the Metal One Stainless Steel Department will acquire all stock for MC Hanwa Thailand from Metal One Stainless Asia, and transform it into a subsidiary. Subsequently, the marketing division of the Metal One (Thailand) stainless steel division will also be integrated into the new venture. The total investment in this new company will be ¥1.4 billion (the amount used to acquire all shares of MC Hanwa Thailand and the additional business credit and guarantees for the new company).

Metal One's stainless steel business in Thailand was originally carried out with MC Hanwa Thailand, a coil center, and Metal One (Thailand), primarily a trading company, pursuing their own respective activities. However, since the acquisition of Hanwa Asia Pte. Ltd. by Mitsubishi Corporation and the subsequent establishment of Metal One, efforts have been made to explore potential partnerships in materials purchases while striving to expand the Group's sales strength. As a result of an analysis of the business contents of both companies, it was determined that the goal of expanding sales in the future renders it critical to pool the sales capacities of the two firms, and in doing so to expand the caliber of services provided and raise mobility. This conclusion sparked the decision to integrate the companies.

The annual sales performance of MC Hanwa Thailand is approximately 6,000 tonnes. The Metal One (Thailand) stainless steel division accounts for about 7,000 tonnes of sales per year, primarily to customers on the local Thai market. This means that the new company will boast annual sales in the vicinity of 13,000 tonnes, making it the largest Japanese-affiliated stainless steel sales base in Thailand.

Outline of Metal One Stainless (Thailand) Co., Ltd.
1. Name: Metal One Stainless (Thailand) Co., Ltd.
2. Headquarters: 130/11 Moo 1 Theparak Rd. Km. 22 T. Bansaothong, King-Amphur Bansaothong Samutpakam 10540 Thailand
3. Capitalization: THB72.5 million (planned) (Approx. ¥217.5 million)
4. Sales: THB1,600 million (planned) (Approx. ¥4,800 million)
5. President: Kazuo Okuhata
6. Lines of business: Processing, inventory sales and trading of stainless steel
     
Integration Scheme
 
*

MOSA: Metal One Stainless Asia, MCHT: MC Hanwa Thailand,
MOT: Metal One (Thailand), MOST: Metal One Stainless Thailand

 
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