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State-of-the-Art Warehousing Firm MODEX Set Up in South Korea From Value One Autumn 2012 No. 38

Expected to Provide Improved Service to Automakers and Other Clients

The exterior of a MODEX warehouse
Outline of MODEX
Name: MODEX Corporation
Location: Port Distripark, Port of Ulsan, Ulsan Metropolitan City, Republic of Korea
Representative: Kim Choon Sik
Shareholders: Metal One (80%), Mitsubishi Korea (10%), and Dongbu Express (10%)
Established: March 2012
Business line: Storage of steel products
Facilities: Two cutting-edge European cranes and two large ceiling cranes
Storage capacity: 23,000 tonnes
In March 2012, Metal One, Mitsubishi Corporation (Korea) Ltd., and Dongbu Express Co., Ltd. jointly established MODEX Corporation, a state-of-the-art steel warehousing company in Ulsan, South Korea. After an inauguration ceremony on July 17, MODEX began regular operations.

MODEX will provide clients—mainly in the auto industry—with improved yield ratios, just-in-time delivery, and other services by taking charge of all physical distribution aspects via the Port of Ulsan, including cargo handling, storage, and transport.

The Port of Ulsan, ranked among South Korea's leading ports in cargo throughput, was suffering from a serious shortage of import cargo storage space due to the growth in the seaborne trade volume from overseas. MODEX will help solve this problem as well as improve the port's handling and storage of steel products by introducing the latest equipment and methods from Europe.

(Automotive Steel Products Business Department)


Third Mexican Steel Sheet Processing Center in the Works From Value One Autumn 2012 No. 38

To Cover All Major Industrial Centers

Nicometal Hidalgo, S.A. de C.V. was recently set up on the outskirts of Mexico City, becoming Metal One's third steel service center in Mexico. Construction of its factory is under way, and the center is scheduled to start operations early in 2013 with a projected annual processing capacity of 150,000 tonnes.

Metal One currently has two steel sheet service centers in Mexico: Nicometal Mexicana, S.A. de C.V. and Coilplus Mexicana, S.A. de C.V. The addition of the new firm near the nation's capital will give Metal One a steel service center network capable of covering all the major industrial hubs in Mexico—the Northeast, Central, and capital city regions.

Outline of New Company
Name: Nicometal Hidalgo, S.A. de C.V.
Location: Atitalaquia, Hidalgo State, Mexico
Representative: Chikami Kida
Capitalization: Approx. US$7.5 million (wholly owned by Metal One)
Established: April 2012
Start of operations: Scheduled for the beginning of 2013
Number of employees: Approx. 50
Business line: Steel sheet processing and sales
Facilities: A large slitter line
Processing capacity: 150,000 tonnes per year

Blessed with the advantages of competitive labor costs and other factors, Mexico manufactured approximately 2.56 million motor vehicles in 2011, an all-time record for the country. It is also well positioned as a production and export base for compact cars destined for the United States and Latin American countries. Major automakers are making active capital investments in Mexico.

As the third steel sheet service center of the Metal One Group, the new company will provide customers with functions and services of an even higher level than before through close ties and networking with its two predecessors.

(Automotive Steel Products Business Department)


FY2012 Metal One Group Management Awards Announced From Value One Autumn 2012 No. 38

Two Overseas Companies and One Domestic Firm Win Awards

A letter of commendation and a vase were presented to each winning firm.
The recently announced Metal One Group Management Awards for fiscal 2012 named one overseas business base, one business investment affiliate, and one domestic Group member as awardees. The three winning firms were Tianjin Rihua Steel Products Co., Ltd. in China; Metal One (Thailand) Co., Ltd.; and Japan Pail Corporation, respectively.

Metal One launched the commendation system in fiscal 2010 with an eye to strengthening awareness of the power and impact of superior group management. Enhancing the motivation of national staff members at overseas bases was added to the objectives last year, expanding the range of awardees abroad beyond business investment affiliates.

The judging criteria included the level of contribution the nominees made to the quantitative targets during the final year of the third Mid-Term Consolidated Management Plan and how much they contributed to achieving the plan's qualitative targets. The qualitative aspects are given greater emphasis than the quantitative profit level. During the judging process, the COOs of supervising business divisions and executive officers in charge of administration state the reasons for choosing their candidates, and after discussions within the Human Resources Advisory Committee the Executive Committee selects the winners. President Matsuoka was on hand to present the three awardees with letters of commendation and commemorative gifts.

(Human Resources & General Affairs Department)


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