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Metal One Stainless Raw Materials Corporation Launched From Value One, Summer 2007 No.17

Also Integrating Businesses of Metal One Structural Steel & Resource's Kansai Branch

Headquarters of Metal One Stainless Raw Materials Corporation.
Outline of Metal One Stainless Raw Materials Corporation
Headquarters : 5-15-17 Mitejima, Nishiyodogawa-ku, Osaka-shi, Osaka
Established : 1987
Capitalization : 48 million (fully owned by Metal One)
No. of employees : 50
President : Takeshi Nunotani
Annual sales : 22.7 billion (achieved in FY2006)

Fuji-Sustech Company Ltd., which specializes in the stainless steel scrap trade, changed its corporate name to Metal One Stainless Raw Materials Corporation on June 1 and integrated the stainless steel scrap business of the Kansai Branch of Metal One Structural Steel & Resource Corporation. The renamed company aims to further expand its business scale as the biggest stainless steel scrap dealer in Japan, handling some 110,000 tonnes a year.

The company, under its old name of Fuji-Sustech, had four offices in western Japan, namely, the Yamaguchi Office, Kyushu Office, Hiroshima Office and its headquarters in Osaka, and was already the biggest stainless steel scrap dealer in Japan, handling approximately 89,000 tonnes a year. The Kansai Branch of Metal One Structural Steel & Resource had an annual business volume of about 13,000 tonnes, and the integration of the two organizations was intended to not only increase volume expansion but also create synergy. The new firm is positioned as a spin-off subsidiary to take over Metal One's stainless steel scrap transactions in the Kansai region and farther west. Because it does business with every stainless steel manufacturer in Japan, Metal One Stainless Raw Materials has further strengthened its perceived presence in the domestic market for stainless steel raw materials, where supply is tight relative to demand.

In 1989, when the company was a division of Mitsubishi Corporation, Metal One entered the stainless steel scrap business in Tokyo and Osaka. In 2000, it acquired a capital stake 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. By engaging in a wide range of business activities, from dealing in stainless steel scrap to selling and processing stainless steel products, Metal One has established a value chain that covers everything from raw materials to end products.

(Overseas & Titanium Business Section, Stainless Steel Department)


Establishment of Cold Rolled Steel Sheet Mill in Pakistan From Value One Summer 2007 No.17

Investing in the Aisha Steel Mills Joint Venture

Signing ceremony for the Aisha Steel Mills joint agreement.

A formal decision was recently made to build the first privately owned cold rolled steel sheet mill in the outskirts of Karachi, Pakistan, as a joint venture of Metal One and Universal Metal Corporation (Ichihara-shi, Chiba; President: Hasib Ur Rehman), a Pakistan-based steel exporting firm. The new firm, named Aisha Steel Mills Limited, will invest some $100 million in a cold rolled steel sheet mill to be constructed in the industrial park of Pakistan Steel, the country's national steel mill. Aisha Steel Mills, which plans to produce approximately 220,000 tonnes of cold rolled coils per year and supply them to Pakistan's domestic market, is slated to start operations in April 2009. Hot rolled steel sheets, which will serve as a base metal, will be imported from blast furnace manufacturers in Japan. The output will mainly consist of sheets that are 0.6 mm or thinner, which at present cannot be produced in Pakistan.

On April 10, a ceremony was held for the signing of the joint-venture agreement among the three parties: Metal One, Universal Metal and Arif Habib Securities Ltd., the biggest securities company in Pakistan. A mill site of roughly 160,000 square meters is already secured, and the remaining tasks include arranging for a bank loan and placing orders for a mill shed, acid washer, cold roll mill, annealing furnaces and others.

Annual demand for cold rolled steel plate and sheets in Pakistan is about 750,000 tonnes, approximately 500,000 tonnes of which need to be imported from overseas counties, including Japan. The new company will meet the brisk demand in Pakistan for construction materials and other steel products and expects to produce such sophisticated steel items for automotive use as galvanized steel sheets in the distant future.

(Business Development Section, Steel International Department)


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