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May 22, 2007

    

Metal One to Integrate Stainless Steel Scrap Businesses

 

Metal One Corporation (headquartered in Minato-ku, Tokyo; president: Moriji Kanada) has decided to integrate the stainless steel scrap businesses currently handled by Fuji-Sustech Company Ltd. (handles 89,000 tonnes/year of stainless steel scrap and is fully owned by Metal One), the biggest trader of this type of metal in Japan, and the Kansai Branch of Metal One Structural Steel & Resource Corporation (handles 13,000 tonnes/year of stainless steel scrap) on June 1, 2007. This action is intended to produce a synergy effect on the Metal One Group's stainless steel scrap transactions.

The corporate name of Fuji-Sustech will be changed to Metal One Stainless Raw Materials Corporation on the same day. The renamed firm will restart as a spin-off subsidiary involved in the Metal One Group's stainless steel scrap transactions mainly in the Kansai region.

Metal One began Tokyo and Osaka-based domestic bookings of stainless steel scrap purchases in 1989 when the company was a division of Mitsubishi Corporation, and has since supplied it to Japanese stainless steel manufacturers. In 2000, it became a capital stakeholder in JSP Corporation, the first blended scrap manufacturer in Japan, and in 2002 launched Fuji-Sustech Company Ltd. by merging the scrap steel department of Sus-Tech Corporation and Fujisho Company Ltd. The annual transaction volume of the Metal One Stainless Raw Materials Corporation will expand from the current figure of 89,000 tonnes to 102,000 tonnes, a figure that Metal One expects to further increase in the coming years.

Outline of Metal One Stainless Raw Materials Corporation

1. Name: Metal One Stainless Raw Materials Corporation
2. Headquarters: 5-15-17 Mitejima, Nishiyodogawa-ku, Osaka-shi, Osaka
3. Line of business: Recycling of stainless steel and specialty metals
4. Capitalization: ¥48 million
5. President: Takeshi Nunotani
6. Annual sales: ¥20,265 million (achieved in 2006)
7. Annual transaction volume: 89,000 tonnes (achieved in 2006)
8. Other offices: Yamaguchi Office, 1-24 Higashikaigan-dori, Kudamatsu-shi, Yamaguchi
Hiroshima Office, 2-2-4 Yanoshinmachi, Aki-ku, Hiroshima-shi, Hiroshima
Kyushu Office, 5-2 Kitakukioka, Maeda, Yahatahigashi-ku, Kitakyushu-shi, Fukuoka
 
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