Metal One Corporation (headquartered in Minato-ku, Tokyo; President: Naoto Matsuoka) is pleased to announce that it has decided to acquire an equity stake in Soluções em Aço Usiminas S.A. (Solutions Usiminas), which will be formed through the merger of service centers affiliated with Brazil's Usinas Siderurgicas de Minas Gerais S.A. (Usiminas), one of South America's largest integrated steelmaker.
Usiminas' affiliated service centers, namely, Fasal S.A., Zamprogna NSG Tecnologia do Aço S.A., and Usimpex Industrial S.A., and the company's Usicort industrial plant will be merged into Solutions Usiminas, with Rio Negro Usiminas S.A. (formed through the merger of Rio Negro Comercio e Industria de Aço, S.A. and Dufer S.A. and affiliated with Metal One) as its nucleus. Metal One intends to develop overall optimization through synergies created from integrating Usiminas' service center affiliates.
Becoming a 20% shareholder in Solutions Usiminas will enable us to provide customers with the highest level of steel distribution capabilities and services in Brazil, a country where steel demand and distribution are expected to grow even more.
In terms of personnel, two employees will be assigned as independent members of Solutions Usiminas' board of directors along with one full-time executive officer.
Outline of Solutions Usiminas
||Soluções em Aço Usiminas S.A. (Solutions Usiminas)
|| Belo Horizonte, Minas Gerais, Brazil
||14 locations in Rio Grande do Sul, São Paulo, Minas Gerais, Espirito Santo, and Pernambuco
||To be determined in December
||Usiminas (68.9%), Metal One (20%), Mr. Johannes Sleumer (11.1%)
||Completion of merger:
||Scheduled for the end of December 2009
||Number of employees:
||Line of business:
|| Processing and sales of steel sheets, sales of plates, and manufacturing and sales of pipes